Orji presents N102.4b appropriation bill to Assembly

Abia State Governor Theodore Orji has presented a budget of N102.4billion, tagged: “Valedictory Budget”, to the House of Assembly.

He said it was to complete projects within and outside the state.

Presenting the appropriation bill, the governor said the budget was made up of estimated recurrent expenditure of N62.2billion and estimated capital expenditure of N40.18billion.

He said it showed a decrease of about 12 per cent below the 2014 budget outlay of N115.3 billion, which required prudent measures for its implementation.

Orji attributed the decrease to the global fall in crude price, saying the 2015 fiscal year would usher in discipline and advancement, to make the state better.

According to him, the bill would ensure the completion of projects, create jobs and reduce poverty, adding that it would transform Abia.

He said the bill was premised on the frame work of International Public Sector Accounting Standard (IPSAS) and structured along a Medium Term Expenditure Framework, “with the projections for 2015 to 2017, using 2013 as the base year.”

Speaker Ude Oko-Chukwu assured the governor of the readiness of the lawmakers to expedite action on the bill.