Okorocha Presents 102bn Naira 2016 Budget

The Governor made the budget presentation
on Tuesday at the hallow chamber in Owerri,
the capital of Imo State in southeast Nigeria.
Governor Okorocha explained that the budget,
which was tagged ‘Budget of Consolidation and
Continuity’, showed that 43.1 per cent of the
total budget was proposed for capital
expenditure while 56.9 per cent was proposed
for recurrent expenditure.
He disclosed that the budget targeted 23
billion Naira from the Imo State’s share of the
Federal Allocation, 17 billion Naira from
Internally Generated Revenue (IGR) and 148
billion Naira from Excess Crude Oil among
others.
The former presidential candidate hinted that
the budget was anchored on free and
qualitative education from primary to tertiary
level, rapid industrialisation, efficient
healthcare delivery, agricultural development.
He added that the budget would also
concentrate on infrastructure development and
substantial provision, saying it would be
channelled towards the completion of all
ongoing projects while new projects of high
priority would also receive attention in line
with the state’s medium term expenditure
framework.
Governor Okorocha maintained that the
Budget performance was affected by the sharp
drop in allocation from the Federation Account,
which adversely affected the revenue profile of
Imo State during the period, stressing that the
2016 budget was 39 billion Naira lesser than
that of 2015.