On
Monday 19th December,
2011, His Excellency, the Executive Governor of God’s own State of Abia, Chief
Theodore Ahamefule Orji, dutifully presented the state’s 2011 fiscal year
budget to the State’s House of Assembly. In the words of the governor, the
budget is that of transformation.
-
The
budget, which has a cumulative of one hundred billion, one hundred and two
million, three hundred and eighteen thousand, four hundred and seventy naira,
(N100,102,318,470,) shows an increase of nineteen point eight percent; (19.8%),
over the 2011 fiscal year budget of eighty billion, two hundred and forty-four
million, four hundred and fourteen thousand, five hundred and forty naira,
(N80,244,414,540).
The
objectives of the budget include, among other things, transformation of God’s
Own State and sustenance of successes recorded in the state’s democratic
experiment since May 2011, as well as repositioning the state on the path of
sustainable economic growth and development.
It
is expected that the budget will implement some components of the medium term expenditure
framework for the state vision 20:2020, which will motivate integrated
multi-sectoral grass-roots’ developments predicated on enhancing sustainable
socio-economic well-being of the people of the state.
As
would be expected, strategies have been mapped out for the successful
implementation of the 2012 budget. They include:
1.
Transformation of Aba city as the commercial cum industrial hub of the nation.
2.
Consolidation of the state government’s efforts in protecting the lives,
property and businesses of the citizenry.
3.
Transformation of moribund government-owned industries via
public-private-partnership approach.
4.
Reinvigoration of enabling environment for investment into the oil and gas
sector, including a refinery, and
5.
Consolidation on the achievements of government in the general health-care
delivery in the state and adhering to a knowledge-based economy.
A
breakdown of the budget shows that it will be financed by the under-listed
projected recurrent revenue;
>
Internally Generated Revenue (I.G.R)
= N22,202,318,470
>
Federation Account
(FAAC)
= N58,900,000,000
>
Value Added Tax
(VAT)
= N10,000,000,000
>
Derivation
= N 9,000,000,000
According
to the budget out-lay, recurrent expenditure in 2012 will be fifty-six
billion,nine hundred and ninety-seven million, two hundred and fifteen thousand
and seven hundred naira while the capital expenditure amounts to sixty-five
billion, three hundred and ninety-two million, nine hundred and twenty-four
thousand, two hundred and twenty naira. The sum of forty-three billion, one
hundred and five million, one hundred and two thousand, seven hundred and
ninety naira is proposed to be transferred from the recurrent revenue and an
expected capital receipt of twenty-two billion, two hundred and eighty-seven
million naira will be generated by way of grants and loans. The capital budget
is separated into four main sectors as follows:
1.
Economic Sector
= N34,206,595,410
2.
Social Sector
= N5,132,200,000
3.
Regional Sector
= N 6,124,000,000
4.
General Administration =
N18,613,128,800,
amounting
to the sum of sixty-four billion, seventy-five million, nine hundred and
twenty-four thousand, two hundred and ten naira. The economic sector of the
budget encompasses
1.
Agricultural
2.
Manufacturing and Commerce
3.
Energy and Power
4.
Roads and Bridges.
In the
social sector, qualitative and affordable education, quantifiable health,
well-managed information services and sporting activities will receive a lot of
boost. On the other hand, the regional sector will pay adequate attention to
environmental and allied matters. General administration will gulp the sum of
eighteen billion, six hundred and thirteen million, one hundred and
twenty-eight thousand and eight hundred naira.
All
in all, the state budget of transformation is expected to take the state to its
desired level of social, economic and political transformation. Successful
implementation of budget 2012 is anchored on the state government’s adherence
to due process, and uncompromising insistence on and pragmatic application of
transparency.
May
God continue to bless Abia State.
Chief
(Sir) Don. Ubani, KSC, JP.
Source: www.abiastate.gov.ng
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