Gov. Hope Uzodinma of Imo on Tuesday presented the state Appropriation Bill totalling N592.2 billion for the 2024 fiscal year to the House of Assembly for consideration and approval.
The bill, christened “Budget of Renewed Economic Growth,” comprised N100.99 billion recurrent expenditure, representing 17 per cent, and N491.2billion capital expenditure, representing 83 per cent.
Presenting the bill on the floor of the house, Uzodimma said that the capital expenditure increased by 32 per cent.
This, according to him, is an indication of his determination to stimulate and fast-track the economic growth of the state.
He said that the budget “is focused on the rapid economic growth of the state”.
The governor promised that every fund projected for the development of the state must be judiciously used to achieve common goal.
He further said that his administration would continue to vigorously pursue his vision to establish a state “where justice and equity for all are guaranteed”.
He further said that his administration would remain prudent, cutting off frivolous expenditures, in order to be able to fund capital projects in the state.
“Prudent and efficient management of public funds is the new norm that cannot be compromised.
“As always, all capital projects must be subject to due process, routine scrutiny and audit,” he said.
He urged the house to grant the budget accelerated passage to ensure that it was ready from Jan. 1, 2024.
Earlier, the Speaker, Mr Chike Olemgbe (APC- Ihitte Uboma), commended the governor for ensuring harmonious working relationship between the executive and legislature.
Olemgbe said that the development had provided conducive environment for the legislature to carry out its duties towards the development of the state without any complaints.
He said that the 2024 budget aims to provide more infrastructure and also facilitate other economic activities of government for the general good of the people.
Olemgbe thanked the governor for being the “most responsible fiscal governor, since the inception of the state”.
He also commended him for his efforts toward ending insecurity in Imo.
He promised that the legislature would continue to partner with the executive to ensure that the state is secure and conducive.
He adjourned the house to December 14 for the second reading of the budget bill.
