Abia proposes budget of N96.7bn for 2016
(Nigeria) Governor Okezie Ikpeazu of Abia State has presented
a N96.7billion budget for 2016 to the state House of Assembly for approval.
Speaking in Umuahia on Thursday during the budget
presentation, Ikpeazu said that the budget was 22.8 per cent less than the 2015
budget of N102.4 billion.
The governor said that the 2016 budget was anchored on the
International Public Sector Accounting Standards, IPSAS.
“Our capital expenditure is proposed to be N37.8 billion
while the recurrent expenditure will be N58.9bn," the governor said.
Ikpeazu said that "in meeting the demands of the
budget, we do not desire to compound the problems of the good people of Abia."
He said that state government would apply prudent
utilisation of available resources to achieve economic development,
environmental sustainability, social inclusion and quality governance.
The governor said that the state government would not rely
solely on federal allocation but had determined to increase its Internally
Generated Revenue (IGR)
Ikpeazu said that the government was poised to increase its
IGR by exploring the benefits of public-private partnership, creation of
conducive environment for increased commercial activities and foreign
investment.
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