Governor of Abia State, Mr. Alex Otti has signed five hundred and sixty-seven billion naira (N567.2) appropriation bill into law for the year 2024.
Mr. Otti disclosed that the budget’s major focus is on the development of the state.
He made this known on his X, formerly Twitter account on Friday, stressing that the bill will revamp the ‘God’s Own State’.
“I am delighted to announce that I have signed into law the 2024 Appropriation Bill of N567.2 billion, which is aimed at transforming our state from underdevelopment to development.
“The budget is a product of our collective vision and aspiration for a better Abia. It reflects our commitment to invest in infrastructure, security, education, health, agriculture, and other sectors that will improve the lives and livelihoods of our people,” he stressed.
The governor said that the budget is also a statement of the state’s fiscal responsibility and prudence.
He added that 84% of the budget is allocated to capital expenditure, while the recurrent expenditure takes 16% of the budget.
“This means that every kobo we borrow will be used for projects that will generate income and create jobs for our people,” he explained
He further stated that he is optimistic that the budget will attract foreign and local investors, boost the economy, thereby propelling the state to the next level of development.
Governor Otti thanked the State House of Assembly for their cooperation and speedy passage of the bill.
He asked for their support in implementing the budget – and charged them to hold his government accountable in delivering the promises made.
