Imo State governor, Rochas Okorocha, has presented a budget size of N102,208,328,832 for the 2016 fiscal year.
This is contained in a budget speech tagged, “Budget of Consolidation and Continuity”, which he presented to Imo State House of Assembly on Tuesday.
Okorocha said the 2016 budget of N102,208,328,832 was lower than the 2015 budget by N41.043 billion which translated to 28.7 percent.
A breakdown of the budget showed a capital expenditure of N44.043 billion, representing 43.1 percent while the recurrent expenditure was put at N58.165 billion which represented 56.9 percent of the total budget.
According to the governor, free and qualitative education from primary to tertiary level for all Imo indigenes in the state’s institutions, rapid industrialization and employment generation, infrastructural development are the focus of the 2016 proposed budget.
Others, Okorocha said, were environmental sustainability/city beautification, agricultural development, efficient health care delivery, and women and youth empowerment.
According to the budget speech, the major thrust would be achieved through enhanced internally generated revenue (IGR), development of the real sector of the Imo economy, reduction in recurrent expenditure, attracting direct foreign investment in the state, health development and others.
“The objective of the 2016 proposed N102,208,328,832 budget is to satisfy the desires of the good people of Imo State in line with the Rescue Mission Programme of this administration which is to rescue Imo State from the shackles of poverty, deprivation and under development and to launch the state into a steady path of sustainable economic growth and development”, the governor said.
He informed that the Sustainable Development Goals (SDG’S), the Federal Government agenda and his current four-year development plan (2015 – 2019) for Imo State will provide the appropriate strategies that would guide the implementation of the 2016 budget.
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