Imo State governor, Owelle Rochas Okorocha, has presented a budget proposal of N174,316,400,000 before the Imo State House of Assembly for approval for the 2012 fiscal year. The presentation took place Friday, January 20, 2012 at the State Assembly complex, New Owerri. According to the proposal, 27 percent of the budget (N47,065,426,000) will go to recurrent expenditure while the remaining 73 percent of N127,250,972,000 goes to capital projects.
The budget proposal has a projection of over N88 billion for recurrent items, N86 billion for capital receipts and a receipt of over N50 billion from the federation account. Tagged “Budget of Rescue”, the budget emphasized that the state government would in the 2012 fiscal year pursue aggressively poverty reduction, infrastructural development, provision of employment for Imolites, as well as evolve the commercialization of the state Ministries, Agencies and Parastatals.
Governor Okorocha added that the 2012 budget would also aim at enhancing the internally generated revenue of the state, reducing recurrent expenditure, pursuing erosion control and free and compulsory basic education, improving health care, and providing adequate infrastructure for the citizenry. Another unique feature of the budget proposal is the “Imo Multi-city Development Programme” which provides for the upgrading of infrastructure in the following towns: Umuaka, Nworieubi, Anara, Ahiara, Okpala, Mgbidi and Akokwa.
The budget also proposed the relocation of the Imo State University, dualization of roads leading to the three cities of Orlu, Okigwe and Owerri and their massive infrastructural development, construction of a state-of-the-art hospital in each of the 27 local government areas of the state, construction of four new markets at Owerri and zonal markets in Orlu and Okigwe, and the electrification of at least 10 communities in each LGA.
Earlier in his address, the Speaker of the Imo State House of Assembly, Rt. Hon. Ben Uwajimogu, noted that the State House of Assembly is in synergy with the governor in every effort to rescue Imo from the shackles of poverty and underdevelopment. He added that in demonstrating this, the House had in recent months passed over 10 people-oriented bills, including the approval for a four-year capital development plan which is today manifesting in the massive road construction, building projects and free education for the people of the state. Hon. Uwajimogu assured the state that the House would support the executive in efforts to meet the needs of the people through the promulgation of good laws and effective oversight functions for good governance.
Reacting to the presentation, Hon. Simeon Iwunze, representing Isiala Mbano State Constituency, thanked the governor for his elaborate presentation but noted that the budget should take into cognizance income and utilization of the fuel subsidy deductions accruable to the state from the federal government.
Also, Hon Mrs. Pat Ekeji, representing Aboh Mbaise, and Hon Greg Okemili, representing Oru East, thanked the governor for proposing a budget that would touch the lives of the people and assured him of the support of the members of the Imo State House of Assembly.
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