Abia State Governor, Alex Otti, says the 2024 Budget would transform Abia from its current level of underdevelopment to development, through strategic infrastructural project execution and intentional implementation of the budget.
Otti who signed the 2024 Appropriation Bill of N567.2 billion, recently passed by the State House of Assembly into law, noting that the budget ratio of 84% for capital expenditure and 16% for recurrent was not a mistake but a deliberate plan to accelerate the growth of Abia’s economy within a short space of time.
The Governor maintained that every money borrowed to finance the budget would be channelled to capital expenditure, adding that the budget is expected to attract foreign and local investors, spur large-scale and medium businesses, secure the State and prepare Abia for the next level of development.
Earlier, the Speaker of the House, Emmanuel Emeruwa, said that the budget would touch the lives of Abia people positively, submitting that the passage of the budget before the 31st of December 2023 is to ensure that the 2024 Budget becomes operational from the 1st of January 2024.
Otti also applauded the lawmakers for their partnership and collaboration in steering the ship of the state in the past few months while promising to foster the cordial relationship between the arms of government for the growth of the state.
