Governor Alex Otti of Abia has assented the 2024 Appropriation Bill of N567.2 billion into an Act.
Otti said that the budget would stimulate the economy and boost socio-economic development of Abia.
In a speech at the brief event, which was held at Nvosi in Isiala Ngwa South Local Government Area, he said that the budget had been designed to take the state out of underdevelopment, secure its next level of development and promote economic stability in Abia.
He said, “The next few years will be unhurt for all our people, those living here, those from here and our friends.
“It is not in error that we devoted 84 per cent of the budget to capital expenditure.
“As you go through the budget, you will find that every kobo we intend to borrow will go into infrastructure, they are all mapped out for infrastructure.
“We believe that as we require the funding, we will get it.
“It is a budget that will spur investments both foreign and local and secure the state for the next level of development.”
He commended the speaker and his colleagues for their efforts and contributions toward the expeditious passage of the bill.
He expressed the confidence that the relationship between the executive and legislative arms of government would continue to be cordial.
Otti further said that the state is blessed with a crop of legislators that understood that “governance is about the people”.
In an interview with newsmen, the Speaker of the house, Emmanuel Emeruwa, said that the budget would be used to positively impact the lives of the citizenry.
Emeruwa said that the house was articulate and expeditious in ensuring that the bill was passed into law.
He said that this would enable the government to hit the ground running from the first month of the new year.
Also, the Deputy Speaker, Austin Okezie, said that the house would be actively involved in ensuring that every component of the budget was effectively implemented.
“Every aspect of the budget has a committee that will perform oversight function to ensure its effective implementation,” Okezie said.
The Chairman of the House Committee on Budget and Planning, Mathias Ume, described the budget as “first of its kind” that would further drive the government’s rebuilding agenda.
Ume, representing Umunneochi State Constituency, said the committee would expedite action in ensuring that all the ministries, departments and agencies would live up to expectation in the implementation of the Act.