Abia Governor, Dr. Okezie Ikpeazu has presented the 2020 budget estimate of One hundred and Thirty-Six Billion, Six Hundred and Seventeen Million, Three hundred and Sixteen Naira (N136,617,847,316) only to the State House of Assembly for consideration.
The draft budget is made up of a total sum of Sixty Six Billion, Eight Hundred and Two
Million, Two Hundred and Forty Seven Thousand, Three Hundred and Sixteen Naira
(N66,802,247,316) only as Recurrent Expenditure and Capital Expenditure of Sixty Nine Billion, Eight Hundred and Fifteen Million, Six Hundred Thousand(N69,815,600,000) only.
The Recurrent Expenditure represents 48.90 percent of the total Budget while the capital expenditure represents 51.10 percent of the Budget.
Presenting the Abia State 2020-2022 Medium Term Draft Estimates christened “Budget Of Economic Repositioning” to the legislators, Governor Okezie Ikpeazu stated that the budget outlay is slightly less than the One hundred and Forty Billion, Nine hundred and Forty-four Million,eight hundred and eighty-five Thousand, Seven hundred
and seventy Naira (N140,944,885,770) only for 2019. This moderate decrease according to the Governor is occasioned by the resolve of his administration to formulate a realistic budget, while working hard to improve revenue generation and
expenditure management approach
He said that inspite of the economic challenges, Abia State government is determined to reposition the State on a new foundation for growth. He Governor said that Abia State keyed into the State Fiscal Transparency, Accountability and Sustainability as well as the other partnership initiatives with the aim of enhancing efficiency in its financial processes and would continue to sharpen the process of participatory budgeting with the involvement of communities, civil
society groups, private sector agencies and other stakeholders.
He informed that the draft estimates are intended to strategically strengthen his achievements in areas such as creating conducive environment for local and foreign investors, providing opportunities for human capital development, revitalizing social services as well as building critical infrastructure for sustainable development, adding that “our watchword in the 2020 budget implementation shall be Prudence in State Resource Management”
Governor Ikpeazu further stated that “in preparing this 2020-2022 Multi-year Budget, consideration was given to effective and efficient resource allocation and utilization.” saying that certain things where considered including; prioritization of peoples’ needs, identification and harmonization of revenue generating windows, re-jigging of Agencies among others.
The State chief executive maintained that in 2020 fiscal year, “we shall further strengthen Governance with renewed commitment to people’s well being through intense citizens engagement and Community Needs Identification Initiative (CNII) in project selection to meet the Community Charter of Demand(CCD).” He said that his focus remains to change the economic development template of the State and strategic partnerships shall be the fulcrum and main driver of the vision for the year 2020.
Governor Ikpeazu assured that “in 2020 we will work to ensure completion of ongoing projects while re-envisioning new ones that will open new frontiers.” adding that he is determined to eliminate waste and unjustified expenditures that are not directly linked to the policy objectives espoused in this document.
He revealed that in 2019, the State participated in a contest involving the six States in the Eastern part of the Niger Delta in respect of those with the best potential development plan and came first, disclosing that, the Partnership Initiative for Niger Delta Development (PIND) is supporting the State to develop a 30-year development plan, adding that the process is currently on-going, and we have insisted that every
sector and MDA shall develop a sector-wide development plan which shall flow from and be
linked to this multi-year State-wide development plan.
Governor Ikpeazu thanked members of the House of Assembly for their immense cooperation to the Executive arm of the government which has made it possible for the acceleration of the socio-economic development of the State, saying that he shall endeavour to be prudent in the management of the resources available to the State.
In his remarks, the Speaker, Abia State House of Assembly, Rt.Hon Chinedum Orji commended the Governor for the timely presentation of the budget estimate to the House of Assembly and promised that the House will ensure speedy passage of the bill.
He pledged that the legislators will support the Governor through their oversight functions which is not meant to witch-hunt anyone but to realize the Governor’s projects.