By Chuks Uzochukwu
Imo State Governor, Sen. Hope Uzodinma has presented the proposed 2021 estimated budget totalling Three Hundred and Forty-Six Billion, One Hundred and Sixty-Nine Million, Nine Hundred and Seventy-two Thousand, Eighty-five Naira (N346, 169, 972, 085).
The budget titled, "The Budget of Wealth Creation," captured N271, 525, 730, 144 for the Capital expenditure which is 78.4% of the budget, while N74, 664, 241, 941, representing 21.6% was mapped for Recurrent Expenditure.
The budget also represented an increase of N237,784,135,955 of the 2020 revised budget which stood at N108, 385, 836, 130.
A further detailed analysis of the budget has Internally generated revenue at N75, 290, 779, 766 (51%), Statutory Allocation N32, 325, 871, 062 (26%), Value Added Tax (VAT) N13, 880, 679, 997 (11%), 13% Derivation Fund N9, 765, 510, 442 (8%) and other External Revenue N4, 817, 710, 081(4%).
Speaking while presenting the budget at the floor of the state Assembly on Wednesday, Uzodinma said the budget which according to him came on the heels of a Covid-19 pandemic with its massive disruption, "represents a sober reflection of the challenging global and domestic economic realities of the times."
He said, "government on its part, will continue with policies that will guarantee increased private sector investments, downstream value chain addition, productivity, as well as boost youths' ago-entrepreneurship, to encourage the growth of small and medium scale enterprises.
"Every step we have taken, from day one and every step we will take today and tomorrow, are all geared towards the uncompromising actualization of making life better for the average Imo man and woman. By the grace of God, we shall achieve these by tenaciously ensuring that everyone gets a bite from the commonwealth of the state"
Responding, the Speaker, Rt. Hon. Paul Emeziem, the deputy, Rt. Hon. Amara Iwuanyanwu, Majority Leader, Hon. Uche Ogbuagu, Chief Whip, Hon. Barr. Arthur Egwim, among others lawmaker applauded the governor for giving priority attention to the development of SMEs, youth empowerment, job creation, improved security, and others.
"Let it be known that this House has no fear or any hesitation in identifying
with this administration where we have noted and confirmed transparency and determination. It is rather our desire to celebrate with you at the end of this tenure as partners in delivery of good governance to Imo people.
"On our part, this 9th Assembly is not relenting having passed 32 laws and 120 motions aimed at bringing human face to administration."
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