Alex Otti signed the 2024 budget into law on Thursday
Abia State Governor, Alex Otti, has assented to the 2024 Appropriation Bill of N567.2 billion recently passed by the State House of Assembly. Speaking shortly after signing the bill into law on Thursday, Governor Otti said the budget will take Abia State out of underdevelopment to development.
“I want to say that this is a budget that would take Abia State out of underdevelopment to development,” he said. “The journey of a thousand miles starts with one step, this is the first step, once we get things right, and we know we will get them right, the next few years will be Uhuru for all our people, those living here and those who come from here and our friends.” He noted that 84% percent of the entire budget is devoted to capital expenditure while 16% is for recurrent expenditure.
He maintained that every money borrowed to finance the budget would be channelled to capital expenditure. According to him, the budget will spur foreign and local investment, secure the state, and prepare it for the next level of development. Governor Otti commended the Speaker and members of the State House of Assembly for a great job done which led to the expeditious passage of the bill.
Earlier, the Speaker of the House, Emmanuel Emeruwa, added that the budget will touch the lives of Abia people positively. According to him, the aim of passing the budget before the 31st of December this year is to ensure that the 2024 budget begins from the 1st of January next year.
