Doris Oliver and Amy Ugo
The Governor of Imo State, His Excellency Dist. Sen. Hope Uzodimma presented the 2024 draft proposed Budget of his first fiscal year in his second tenure in office which is #592,234,594,176 (five hundred and ninety two billion, two hundred and thirty four million,five hundred and ninety four thousand, one hundred and seventy six naira for the 2024 fiscal year.
The budget presentation was done during a special session at the Hallowed Chamber of the House as it was aptly christened Budget of Renewed Economic Growth.
Presenting the Budget, His Excellency stated that ” through our now famous 3R mantra of Rehabilitation, Reconstruction and Recovery, we have been able to tackle and reasonably arrest challenges. His Excellency, highlited the challenges he met on ground which cut across virtually all sectors from dilapidated infrastructure to frightening youth unemployment as well as decayed Education to a failed health system even from crippled civil service to a public sector whereby his strength lies in a well grounded vision and mission that helped him in achieving great things.
The number one person in the state focused on the rapid economic growth of Imo State whereby the total budget of #592.2 billion capital expenditure will gulp 82.9% of the total budget which amount to a capital expenditure of #491.2 billion.
Also, He further pointed out that his administration will be determined to checkmate all forms of leakage of waste of public resources and efficient management of public funds will be in new norm that can not be compromised as well as capital projects will be subject to due process, routine scrutiny and audit.
Moreso, His Excellency stated that the budget will meet the 10 year development plan which identifies the priority sectors and initiatives that will drive the growth and development of the Imo State for every prosperous and sustainable economy that is build on carefully articulated vision and plan with the collaboration of the federal government.
Governor Hope Uzodimma gave the breakdown of the 2024 Buget to be follow
Recurrent Revenue for the 2024 budget is # 241,002,701,430 while that of 2023 was # 150,450,189,428. This represents a 60.2% increase in revenue projection.
Recurrent Expenditure is #100,994,842,135.38 as against the sum of # 100,904,085,427.73 in 2023 approved budget with 0.1% increase
The Capital Expenditure is #491,239,752,040.82 compared to the sum of #373,562,190,839 in 2023, showing 31.5%.
Economic Sector was #278,131,684,040 but in 2024 is # 370,091,415,923 represents 33.1%.
While Social Srevice Sector was # 35,566,149,294 in 2023 budget, while in the 2024 budget, it has increased to # 50,582,999,824 with an increase of 42.2% .
As General administration services sector was # 51,546,098,767, while in 2024, is # 65,305,810,000, representing 26.7% increase.
The Governor thanked the members for their cooperation and support since they came on board promising to implement people oriented and well thought out policies and programs that will enable him to achieve extensive infrastructural development and human capital development extending also his profound gratitude to Imo people for their resounding votes of confidence in the past gubernatorial election and equally assuring imolites that he will not disappoint them.
On land administration, He promised Imolites ” that all the lands illegally acquired or stolen by this inglorious cabal in our land administration system will be recovered. Also, all those involved in these sordid deals, no matter the person or positions, shall be made to face the full wrath of the law. “
He appealed to the few unrelenting detractors in the state to bury their hatched and sheath their swords and join hands as brothers and sisters to make Imo State great again.
The Speaker of Imo State House of Assembly Rt. Hon. Chike Olemgbe humbly expressed his gratitude on the occasion of the presentation urging the members of the House and the entire staff of Imo State House of Assembly to Honor His Excellency, Dist Sen. Hope Uzodinma on his birthday with a standing ovation that goes with a birthday song to wish him many more prosperous years in good health.
The Speaker appreciated the performing Governor and all the past and present Honorable members who made out time to attend the presentation of the yearly budget thanking also the management and staff of the House for their support and promising that the House will give the Bill an expeditious passage into law.
The Deputy Speaker, Hon. Amarachi Iwuanyanwu in vote of thanks, expressed joy over the massive infrastructural strides of the governor and promised that the house would give the budget an expeditious passage as he assured Imo State people that the turbulent times will be over as the for Governor is ready to lead imolites to the promised Land.
Earlier, the member representing Isiala Mbano State Constituency Hon. Ikechukwu Osuji described His Excellency as a God sent Man that will take Imo State to the next level as he present an outstanding budget of the year should be known and called the best Governor of the year in Nigeria equally wishing that the governor becomes the first President of the federal Republic of Nigeria from the Igbo extraction.
Hon. Osuji commended His Excellency for making the entire Okigwe zone proud based on the road, which has remained a toast of Joy promising the governor that Imo people will ultimately benefit massively when the budget is passed.
Hon. Uche Agabiga and Hon. Obinna Egu were very optimistic that the budget was well planned. They jointly commended the governor for a work well done while the Minority Leader, Hon. Osakwe representing Isu state constituency felicitate with the governor in conformity with the majority voices for the interest of imolites.
The House adjourned to 14th of December 2023.
