The Abia State House of Assembly has passed into law the 2024 Appropriation Bill of
N567,240,950, 972.
The Speaker of the Abia State House of Assembly, Emmanuel Emeruwa, who announced the passage of the budget at the Assembly complex, congratulated his colleagues for their dedication and commitment towards the expeditious passage of the bill.
He said that the budget has an estimated capital expenditure of N476, 011, 378, 893, while the recurrent expenditure is N91, 228, 778, 079.
Emeruwa said the 2024 Appropriation Bill, when signed by Governor Alex Otti, will come into law on January 1, 2024.
The passage of the bill followed, among others, the presentation and deliberations on the report and recommendations of the joint committee on appropriation and budget, planning, and multilateralism, which was co-chaired by Stephen Ucheonye and Mathias Ume.
Newspot reports that Gov Otti, while presenting the N567.2 billion “Budget of a New Beginning” on December 12, said 84 per cent of the projected budget would be spent on capital projects while 16 per cent would be utilised on recurrent expenditures, adding that various sectors of the state’s economy would receive turnaround from his administration.
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