Governor Theodore Orji of Abia State on Tuesday presented a budget of N102.4 billion for the 2015 fiscal year to the state House of Assembly.
Announcing the budget outlay at the assembly complex in Umuahia, Orji said the amount comprised an estimated recurrent expenditure of N62.20 billion and a capital expenditure of N40.18 billion.
He said that the figure represented 12 per cent decrease compared to the 2014 budget of N115.3 billion.
He attributed the decrease in the budget to “the global fall in the price of crude oil”.
He said that the budget, christened: “Valedictory Budget,” was premised on the framework of International Public Sector Accounting Standard and structured along a Medium Term Expenditure Framework.
According to the governor, the framework takes into account the projection from 2015 to 2017, using the year 2013 budget as the base year.
Orji explained that the budget provided for the completion of all ongoing projects, creation of jobs, provision of physical and human infrastructure and ensuring sustainable peace and security in the state.
Orji said that the administration would do more in the area of healthcare delivery, improvement in internally generated revenue, education, agriculture, water resources, environment, housing, youth empowerment, among others.
In his response, the Speaker, Chief Ude Oko-Chukwu, said that the house expected that the budget would “usher in greater fiscal discipline and advances in our shared efforts and commitment to make Abia and its people better”.
Oko-Chukwu urged all the implementing ministries, departments and parastatal agencies to “ensure fiscal discipline and prudent management of resources for result”.
He urged the government to endeavour to consolidate and improve on the gains so far achieved, with a view to returning the state to the path of sustainable economic growth and development.
The speaker promised that the house would provide the “necessary legislative frameworks that will support all efforts and initiatives geared toward guaranteeing peace, stability, security, justice, good governance and sustainable development in the state”.
He assured the governor of the readiness of the house to consider the appropriation bill expeditiously.