OTTI ASSENTS 2024 ABIA BUDGET, VOWS TO USE BORROWED FUNDS FOR INFRASTRUCTURE

REPORTER: PEACE AGBO

Governor Alex Otti of Abia state has assented to the 2024 Appropriation Bill of N567.2 billion, recently passed by the State House of Assembly.

Speaking shortly after signing the bill into law, Governor Otti said the budget would take Abia State out of underdevelopment.

Governor Otti explained that 84% percent of the entire budget would be devoted to capital expenditure while 16% would be for recurrent expenditure.

The Governor maintained that every money borrowed to finance the budget will be channeled to capital expenditure.

He said the budget would spur foreign and local investment, secure the State and prepare it for the next level of development.

“The budget that would spur investment into the state both foreign and local, attract businesses, spur the large scale and medium businesses, secure the state and prepare it for the next level of development,” Gov. Otti said.

He commended the the Speaker and members of the State House of Assembly for a great job done which led to the expeditious passage of the bill.

Earlier, the Speaker of the House, Mr. Emmanuel Emeruwa, explained that the aim of passing the budget before the 31st of December this year is to ensure that the 2024 budget begins from the 1st of January next year.

Also speaking, the Deputy Speaker, Mr. Austin Nmeregini pledged that the House would carry out its oversight functions to ensure proper implementation of the budget.

The event attracted top State lawmakers and other top government functionaries.

COVER PEACE AGBO