Gov. Okezie Ikpeazu of Abia on Tuesday presented the N147,787, 781,300 billion 2022 budget with a resolve to stimulate economic recovery and industrialisation in the state.
Speaking during the presentation at the Abia House of Assembly, Umuahia, Ikpeazu said the figure represented a 10.81per cent increase from the N131815753720 billion budget of 2021.
The governor said that the 2022 budget outlay of N147,787,781,300 billion was made up of 45% as recurrent expenditures and 55% as capital expenditures.
He said the theme of the budget is “Economic Recovery through Industrialisation and Inclusive Growth”, adding that the budget is aimed at building sustained socioeconomic growth in Abia.
Ikpeazu said: “the measures that would be taken to achieve the 2022 budget include: sustain and improve on investment in education, healthcare and social welfare;
“We will foster security of lives and property; promote good governance; rebuild, maintain and expand infrastructure in water, electricity and road networks.
“In 2022, we will strive promote agriculture and food security through access to farm input and construction of access roads.
“We will ensure full operation of Enyimba Automated Shoe Factory and remodel key markets in Abia.”
Ikpeazu commended the state House of Assembly for the speedy passage of the 2021 Appropriation Bill into law saying it restored the state to January-December fiscal year plan.
Responding, Chief Chinedum Orji, the Speaker of the Assembly, said that it would was committed to ensuring the passage of the 2022 Appropriation Bill into law within the shortest possible time.
“The presentation of budget is as vital as its implementation and the House of Assembly will work assiduously to undertake its oversight functions to proper implementation of the budget,” Orji said.