By Onyekachi Eze
Apparently enticed by the contents of the recently submitted appropriation bill by Governor Hope Uzodinma, the Imo State House of Assembly has passed the bill into Law.
The State Governor on Tuesday, December 20, 2022, presented the 2022 budget to the State Legislature for consideration and approval.
This was in accordance to the provisions of the 1999 Constitution as amended.
Tagged, “2023 budget of wealth expansion”, the governor presented an estimated budget of Four Hundred and Seventy Four Billion, Four Hundred and Sixty Six Million, Two Hundred and Seventy Six Thousand, Two Hundred and Sixty Seven Naira (₦474,466,276,267.00).
Earlier in the breakdown of the budget, Uzodimma disclosed that the budget would further touch the lives of every Imo household, adding that it is majorly targeted to satisfy Imo people, expand wealth as well as prosperity in tandem with the 3R mantra.
The Governor added that security of the State is paramount and non negotiable, hence the reason he donated 10 armoured personnel carriers, including the earlier 4 armoured vehicles procured.
“We come to serve Imo people in all sincerity and with the fear of God”.
Meanwhile, the House yesterday, December 21, 2022, during its plenary session took a holistic approach to the budget presented.
Expatiating on the benefits of the bill, the Majority Leader, Hon. Kanayo Onyemaechi explained that the budget was painstakingly written to accommodate the needs and yearnings of Ndi Imo.
He assured that Imolites will have every cause to smile by the time the contents of the bill and its derivable benefits start to manifest.
Hon Kanayo further reeled out some benefits thus, “It will help Government to establish Night landing facilities at Imo Airport; If we approve this Budget,the dredging of Oguta Lake will be possible; If Oguta Lake is dredged,more commercial and economic openings will be created; This Budget if passed will help Government to consolidate on its fight against insecurity; The ongoing construction of Owerri-Umuahia, Owerri-Okigwe Roads will be completed; Our health Sector will experience a great improvement; Education will have its fair share of improvement; Commerce and Tourism will continue to expand”.
On the same vein, Lawmakers commended the Governor for his love for humanity, describing the budget to have fully captured the minds of Imolites.
According to them, year 2023 would be a great year in the land of Imo, with Shared prosperity tenets at play.
In a related development, Imolites have raised concern on the budget.
While majority expressed sigh of relief with the hope that wealth will be duly in circulation for the masses, and insecurity challenges maximally managed, others were skeptical it would be fully implemented.
From the appropriation bill, Ministry of Education, Ministry of Health, Economic services received a greater allocation figure.
After a robust deliberation, the House of Assembly Bill number 110; A Bill for a Law to Appropriate the sum of #458,731,029,167 (Four Hundred and Fifty-Eight Billion, Seven Hundred and Thirty-One Million, Twenty Nine Thousand, One Hundred and Sixty-Seven Thousand Naira) to the services of the Government of Imo State of Nigeria for the year ending on Thirty-First day of December, Two Thousand and Twenty Three and for other related purposes. This excludes the Consolidated Revenue Fund Charges of #15,743,247,101 (Fifteen Billion, Seven Hundred and Forty-Three Million, Two Hundred and Forty-Seven Thousand, One Hundred and One Naira) only hence a total Budget of #474,466,276,267 (Four Hundred and Seventy Four Billion, Four Hundred and Sixty-Six Million, Two Hundred and Seventy-Six Thousand, Two Hundred and Sixty-Seven Naira)”, was passed into Law.
The Deputy Speaker, Rt. Hon. Amara Iwuanyanwu who presided over the plenary session urged the Clerk to prepare a clean copy of the passed Law and send to the Governor for his assent.
Some rundown of the budget:
RECURRENT REVENUE:
The total Recurrent Revenue for 2023 budget is N150,450,189,428 while that of 2022 was N142,855,407,202.This represents 5.1% increase in revenue projection.
RECURRENT EXPENDITURE
Recurrent Expenditure is N100,904,085,427.73 as against the sum of N96. 746,349,775 in 2022 approved budget.This shows 4.1%increase.
CAPITAL EXPENDITURE
Capital Expenditure in the 2023 Budget is N373,562,190,839 compared to the sumofN284,416,597,902 in the 2022 approved budget,showing 23%increase.
SECTORAL CAPITAL EXPENDITURE,
ECONOMIC SECTOR:
The 2022 Approved Capital Expenditure for Economic sector was N142,034,052,933 while the amount for 2023 is N185,717,754,040 representing 23.5%increase.
SOCIAL SERVICES SECTOR:
The 2022 approved Capital Expenditure for social service sector was N55,757,500,000 but was slightly decreased to N35,566,149,294 in 2023 representing 36.2%decrease.
GENERAL ADMINISTRATION SERVICES SECTOR:
The 2022 Approved Capital Expenditure for General Administration Services Sector was N78,125,931,053. The provision for 2023 under General Admin Service Sector is N143,960,028,769 representing 45.7%increase.
GOVERNMENT TRANSFERS:
The amount approved for Government Transfers in 2022 Approved Capital Budget was N8,499,113,916. The provision for 2023 Government transfers is N5,259,526,824 representing 38%decrease.
Law and Justice Sector-The sum of N3,058,731,912 was provided underthis sectorin 2023.
(v)In summary,the 2023 Capital Expenditure is N373,562,190,839 representing 78.7%of the total Budget size.
The 2023 Budget came to a total of N474,466,276,266.90(Four Hundred and Seventy-four Billion, Four Hundred and Sixty-six Million,Two Hundred and Seventy-six Thousand,Two Hundred and Sixty-six Naira,Ninety kobo).
