Ihedioha Proposes N197.6bn Budget for 2020

Imo State Governor, Emeka Ihedioha, has presented the state’s 2020 Appropriation Bill of N197, 607, 272, 328 titled “Rebuild Imo Budget One” to the Imo State House of Assembly.

The bill consisted of a proposed recurrent expenditure at N91,377,822,129, which is 46.2 percent of the budget, and a capital expenditure of N106,229,450,200, which is 53.8 percent of the budget.

Ihedioha said: “In summary, the Recurrent Expenditure is N91, 377,822,129. However, this figure includes the repayment to FGN on debts including bailout funds and rescheduled service of bonds.

“Our capital expenditure is N106, 229, 450,200 which represents 53.8 percent of the proposed budget. This is a welcomed development in an era where many other administrations have well below 40 percent in capital expenditure. It goes without saying that capital expenditure drives development and growth.”

He said the focus of the 2020 Budget is aimed at “rebuilding infrastructure, especially roads, smart electricity sub sector, laying the groundwork for sustainable agriculture, health delivery with focus on health insurance, primary healthcare and cleaner environment. Others are human capital development, especially technological advancement, technical education, women and youth empowerment, Ease of Doing Business, job/wealth creation and youth empowerment.

The governor said these major planks of the budget would be achieved through enhanced Internally Generated Revenue (IGR).

He stated that the 2020 budget proposal, which encapsulated government’s political, economic and social development strategies, would aim at giving the citizenry a sense of belonging.

Ihedioha recalled the state of Imo before he was sworn in as governor and how far his administration has gone in actualising the Rebuild Imo Agenda.

He said: “The state of colossal ruins this government met upon the inception of our administration is no longer news. It was an all-round devastation spanning every facet of infrastructure, public utilities, health, education, industry and the public service to mention but a few.”