Abia State Governor Signs 2016 Budget into Law
Posted by admin | 8 years ago | 2,880 times
Governor Okezie Ikpeazu has signed into law the Abia state 2016 budget .
The Abia state appropriation law no 1 of 101.4b is made up of 59.2 b recurrent expenditure and 42.1 capital expenses.
The Governor had earlier sent to the house of Assembly for passage a draft budget extimate of 96.7 b made up of 58.9 recurrent expenditure and 37.7 capital expenditure on the 31st Dec last year which was amended by the House.
Presenting the appropriation law to the Governor for signing, the speaker,Abia state House of Assembly, Rt Hon Martins Azubuike stated that IGR remains the option to the implementation of the year 2016 budget, that early passage of the appropriation law is key to the implementation of the budget.
He recommended the implementation of revenue generating laws which have earlier been passed by the house including the Abia security fund law, the Abia advertizing and signage law, the public, public,private partnership initiative law,Abia Quary and Dredging site law among others as well as to ensure that taxable Abians are brought into the tax net by the Board of Internal revenue as a way of realizing the budget and commended the Governor for his efforts at driving sustainable development in the state.
Accenting to the law at the Exco chambers of the Government House, the Governor thanked the House for doing a good job, pointing out that the executive has enjoyed the cooperation of the legislature and other arms of government.
He said that with the fall of oil price in the global market, dependence on allocation from the federal government should begin to recede to the background saying that Abia should not be seen as people who go cap in hand begging.
According to him, now is the time that Abians should rise above others in driving the economy, announcing that with the resolution of the imbroglio between the Geometric power plant and the Enugu distribution company Abia will soon become a major centre of economic activity as it will be the first state to enjoy regular power supply in the country.
He promised that everything possible will be done to implement the budget and stated his commitment to make Abia the best.
Readers Comments
comment(s)
No comments yet. Be the first to post comment.
