Uzodinma Presents Yr 2024 “Budget Of Renewed Economic Growth” To IMHA

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🟢 Majority Leader IMHA, Top Government Functionaries, All Progressives Congress APC Party Stalwarts, Elder’s Council were present at the event in Owerri.

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In presenting the 2024 budget proposal, Governor Uzodinma emphasized the unique circumstances surrounding this fiscal year, as it marks the commencement of my second tenure as the Governor of Imo State.

He added that the 10th Assembly, IMHA comprised of vibrant and committed young legislators that will consider this budget, reflecting a significant moment in the history of Imo state government.

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The theme of the budget, “Budget of Renewed Economic Growth,” underscores our commitment to the economic advancement of Imo State.

Out of the total budget of N592.2 billion, a substantial 82.9% is allocated to capital expenditure, amounting to N491.2 billion.

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This reflects a commendable 32% increase compared to the previous year, demonstrating our determination to stimulate and fast-track economic growth.

In reviewing the governance and the 2023 budget, the government achieved significant milestones in infrastructure development, security enhancement, Internally Generated Revenue (IGR) boost, and effective public financial management.

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The Governor stated that his

achievements include the reconstruction of major roads, improvements in the water and power sector, advancements in the digital economy, housing and urban development, and humanitarian efforts.

The 2024 budget reinforces our commitment to sustained development, with key policy thrusts aligned with the 3R Agenda – Reconstruction, Rehabilitation, and Recovery. The budgetary framework considers macro-economic projections, including an oil price benchmark of $77.93 per barrel, daily oil production estimate of 1.1 million barrels per day, and an exchange rate of N816.96/USD.

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While urging the Imo State House of Assembly (IMHA) to expedite the appropriation of the 2024 budget, recognizing its critical role in driving the envisioned economic growth and development, Governor Hope Uzodinma maintained that the proposed budget is a strategic tool to consolidate on past achievements and propel Imo State into a new era of prosperity.

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The Imo Majority Leader 10th House, Imo House of Assembly, Rt Hon Kanayo Onyemaechi was present alongside other Honourable Members of the state Assembly, All Progressives Congress APC party stalwarts and government functionaries at the presentation of the 2024 Budget Christiened “Budget of Renewed Economic Growth” to IMHA by His Excellency Governor Hope Uzodinma.

-Princely Onyenwe reporting

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About Princely Onyenwe 2448 Articles
Princely Onyenwe A seasoned Investigative Journalist, Civil Rights Activist, and Political Analyst, Currently Editor and News reporter with 9News Nigeria www.9newsng.com www.facebook.com/9newsng