Abia State Governor, Dr. Alex Otti, has officially signed the 2024 Appropriation Bill, totaling N567.2 billion, marking a significant stride towards propelling the state from underdevelopment to robust growth.
Reflecting a shared vision for a better Abia, this budget underscores a steadfast commitment to fortify key sectors such as infrastructure, security, education, health, and agriculture.
Governor Otti emphasised that this multifaceted approach aims to elevate the lives and livelihoods of the state’s populace, Hitvibz reports.
A striking hallmark of fiscal prudence is that 84% of the budget has been allocated to capital expenditure, while 16% is earmarked for recurrent expenses.
This allocation strategy ensures that borrowed funds will be channelled exclusively into income-generating projects, fostering employment opportunities for Abia residents.
Expressing optimism, Governor Otti highlighted the anticipated impact of this budget on attracting both local and foreign investors, ultimately invigorating the state’s economy and laying the groundwork for escalated development.
Commending the State House of Assembly for their collaboration and swift approval of the bill, the Governor earnestly urged citizens to actively support the budget’s execution and hold the government accountable for fulfilling its commitments.
The implementation of this ambitious budget, Governor Otti emphasised, will play a pivotal role in steering Abia State towards a prosperous and progressive future.