Abia State Governor, Alex Otti, has signed the 2024 Appropriation Bill of N567.2 billion into law. The bill was recently approved by the State House of Assembly.
During the signing ceremony on Thursday, Otti expressed his confidence that the 2024 Budget would propel Abia State from underdevelopment to development.
He emphasized that the allocation of 84% for capital expenditure and 16% for recurrent expenditure in the budget was a deliberate strategy to expedite the growth of Abia’s economy.
Otti also highlighted that the budget’s primary objective is to stimulate both foreign and local investment, drive the growth of large and medium-sized enterprises, ensure state security, and prepare Abia for the next phase of development.
The governor commended the Speaker and members of the State House of Assembly for promptly passing the bill, and thanked them for their support.
Additionally, the Speaker of the State House of Assembly, Rt Hon. Emmanuel Emeruwa, affirmed that the budget would positively impact the lives of the people of Abia. He stressed that the early passage of the budget was aimed at ensuring its operationalization from the 1st of January 2024.
Furthermore, the Deputy Speaker, Rt Hon. Austin Okezie Nmeregini, assured that the 2024 Budget would bring about significant changes in Abia and pledged the House’s commitment to overseeing its effective implementation.
The budget signing ceremony was attended by members of the State House of Assembly, commissioners, special advisers, the Accountant General of the State, and other dignitaries.