Abia gov signs N567.2BN 2024 budget into law

The 2024 Appropriation Bill of N567.2 billion has been signed into law by Abia State Governor, Alex Otti. Otti expressed confidence that the budget would propel Abia State from its current state of underdevelopment to development. He emphasized the deliberate plan to allocate 84% for capital expenditure and 16% for recurrent expenditure in order to accelerate the state’s economic growth. The focus on infrastructure investment was highlighted as a key priority for the budget.

The governor reiterated the commitment to allocate borrowed funds solely to capital expenditure, stimulating foreign and local investments, supporting businesses, and advancing the state’s development. Otti commended the State House of Assembly for their efforts in facilitating the swift passage of the bill.

Speaker Rt Hon. Emmanuel Emeruwa emphasized the positive impact the budget would have on the lives of the people of Abia. He also noted the importance of ensuring the budget’s operationalization from January 1, 2024. Deputy Speaker Rt Hon. Austin Nmeregini pledged the House’s commitment to overseeing the implementation of the budget. Additionally, Chairman of the House Committee on Budget and Planning, Hon. Mathias Umeh, affirmed their dedication to monitoring the budget’s execution through oversight.

The budget signing ceremony was attended by Members of the State House of Assembly, Commissioners, Special Advisers, and the Accountant General of the State.

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