2024 Fiscal Year: Abia To Borrow N319 Billion

By Suleiman Anyalewechi

The Abia state  Government ,on Friday May 3 2024 ,said  its 2024  fiscal receipts and expenditure estimate of about  N567.24 billion, has a deficit of N319,billion.

The deficit component of the appropriation law will be financed with loan facilities.

This is just as Governor Alex Otti has said that under his watch, the interests and well being of the people will take precedence over all other considerations,including political matters and privileges.

The State Commissioner for Budget and Planning, Kingsley Anosike, who made this known at a formal budget breakdown event tagged ‘” A New Beginning” jointly  put together by the Abia state Government and  the Open Government Partnership OGP,held at the Aguiyi Ironsi Conference Centre Umuahia, also stated that the state has so far received N6 billion in aids and grants from donor agencies and entities.

He expressed the optimism that more international aid to the region of about #16 billion, ,are most  likely to pour in ,based on the favourable and positive perceptions of the performance of the current administration in the state.

According to the Budget Commissioner, Abia state with 84% of its budget estimate allocated to capital  expenditure ,remains  first among states of the   federation,with the highest allocation to capital projects.,with Anambra state following closely with 76%.

He explained that Government’s strong commitment towards infrastructural renewal in Umuahia the state capital, Aba the commercial hub, and other emerging cities in the state  informed the decision to make such a huge sectoral allocation to capital expenditure.

The Commissioner for Budget emphasised that Government will commit about N185 billion to transforming physical infrastructural facilities within the Social services sector , which include Education and Health .

While infrastructural renewal in the education sector is expected to gulp about N100 billion, health will be allocated N85 billion,

Anosike ,who stated   that the huge sectoral allocation to health and education were intentional,insisted that  the state will benefit immensely from the investments.

According to him ,Abia is already reaping from the enormous investments in the social services sector ,with the growing confidence of both local and international  development partners in driving investments in the state .

,Governor Otti who spoke,while receiving in audience , a delegation of Course 17, Syndicate 2 of the National Institute For Security Studies Abuja at the Government House Umuahia ,insisted that. the policy thrust of  his regime is to build the masses and not a few privileged  political actors .

The Abia state Governor informed his visitors ,that his recent clearance of the pensions arrears ,accumulated over the past years represents an eloquent testimony to his determination to make the people ,and their interests ,the focal point of the policy thrust of his administration.

“This is the people’ time . Politicians have helped themselves enough for the past 24 years ” Governor Otti noted.