Imo Assembly considers 2022 budget as Uzodinma proposes N381.462bn
THE IMO STATE HOUSE OF ASSEMBLY HAS GONE TO WORK ON A FORENSIC TOOTH combing of the 2022 expenditure plan prepared by the executive arm of the government and presented to it by Governor Hope Uzodinma, the chief executive officer of the state’s executive arm.
Governor Uzodinma of Imo State is proposing to spend N381.463 billion to fix the state in the 2022 fiscal year, according to the budget estimate he presented to the legislative branch of the government of Imo State.
The executive branch has christened the proposed 2022 spending plan as “Budget of wealth consolidation and recovery”, in which it has earmarked N96.75 billion for recurrent expenditure, representing 23.36 percent of the budget; and N284.72 billion for capital expenditure, representing 74.64 percent.
The budget set aside N8.98 billion from recurrent expenditure and N6.40 billion from the capital expenditure to mitigate the negative effects of the COVID-19 pandemic.
The Consolidated Revenue Fund Charges (CRFC), representing 16.27 percent, is N15.74 billion, the proposed personnel cost is N11.56 billion, overhead costs is N46.34 billion, while the total sum of N23.11 billion was proposed for subvention costs.
However, N142.334 billion, representing 50 percent of the capital expenditure, was mapped out for the economic sector, and N55.75 billion for the social services sector.
The budget also earmarked N78.125 billion for the administrative services sector and N8.499 billion for government transfers.
Governor Uzodinma, while presenting the budget, stated that the objectives of the budget is to satisfy the desires of all the people of the state, promote sustainable economic development and promote prosperity.
He added that it is aimed at putting the wellbeing of the citizenry at the centre of governance, through massive reconstruction of the state’s dilapidated infrastructure.
This would be achieved by adopting participatory governance through an open budget process, human capital development and grassroot development, among others, Uzodinma told the state’s lawmakers.
The governor commended the lawmakers for their solidarity with his administration and pledged to vigorously pursue the implementation of policies, programmes and projects captured in the budget.
Earlier in his address, Kennedy Ibeh (APC Obowo), the speaker of the Imo House of Assembly, assured the governor that the 2022 budget would be passed expeditiously to enable him continue his “good works” in the 2022 financial year.
The speaker expressed confidence that the 2022 appropriation bill would address the aspirations of Imo people by providing more infrastructural policies
Ibeh further commended the governor for “demonstrating uncommon courage in rising up to the new dimensions of crime, criminality and banditry in the recent past.”
Governor Uzodinma was also commended by the speaker for the recovery of government’s property, as well as those of citizens, which were illegally acquired by the past administration.
In a vote of thanks, Amarachi Iwuanyanwu (APC Nwangele), the deputy speaker, assured the governor of their confidence in his abilities towards steering the state to a better future.
Iwuanyanwu also promised a seamless and quick consideration and passage of the budget while pledging the total support of the house to the governor’s efforts towards developing the state.
The speaker adjourned the house to December 20 for the second reading of the budget.