Imo State Assembly Greenlights N592 Billion Budget for 2024 Fiscal Year - The Top Society

Imo State Assembly Greenlights N592 Billion Budget for 2024 Fiscal Year

The Imo State House of Assembly has given its nod to the state’s N592 billion Appropriation Bill for the upcoming fiscal year. The bill successfully traversed its Second and Third Readings during the plenary session held on Thursday, as reported by the News Agency of Nigeria (NAN).
Dubbed the “Budget of Renewed Economic Growth,” the allocation designates N101.99 billion, constituting 17%, for recurrent expenditure, while N491.200 billion, representing 83%, is earmarked for capital expenditure.
Addressing the legislative chamber, Majority Leader Mr. Kanayo Onyemaechi (APC-Owerri West) underscored the budget’s significance in advancing numerous developmental projects for the benefit of the state. Onyemaechi commended the governor’s judicious spending of the 2023 budget, particularly in the reconstruction and rehabilitation of roads.
He urged fellow lawmakers to expedite the bill’s passage, emphasizing its pivotal role in the state’s progress. Supporting the bill, Mr. Chisom Ojukwu (APC), representing the Nkwerre constituency, and Chair of the Standing Committee on Budget and Appropriation, lauded the governor for ensuring responsible resource utilization.
Similarly, Mr Chigozie Nwaneri (APC-Oru East), the House Committee Chairman on Works, highlighted the impact of the budgeted funds for the Ministry of Works, emphasizing that they would lead to the completion of capital projects across all Local Government Areas.
Mr. Innocent Ikpamezie (APC), representing Mbaitoli State Constituency, stressed the need for members to ensure strict adherence to budget provisions through diligent oversight.
Following the bill’s consideration in the committee of the whole, the Speaker, Mr. Chike Olemgbe (APC-Ihitte Uboma), ruled in favor of its passage after the Third Reading and garnered support through a vote.
In an additional development during the plenary session, Mr. Ugochukwu Amuchie (PDP), the representative for Aboh Mbaise State Constituency, was sworn in. The Appeal Court had recently declared Amuchie as the rightful winner of the Assembly poll held on February 25, leading to his assumption of office and succeeding Mr. Eddy Obinna of the APC.
Governor Hope Uzodinma had presented the N592.2 billion appropriation bill earlier in the week to the state House of Assembly for consideration and approval. The budget, named with a focus on renewed economic growth, signals the state’s commitment to fostering development and addressing key priorities in the coming fiscal year.
Share this Article
Leave a comment