Governor Alex Otti of Abia on Thursday assented to the 2024 appropriation bill of N567.2 billion into an act.

In a speech at the brief event at Nvosi in Isiala Ngwa South Local Government Area, Mr Otti said the budget would stimulate the economy and boost the socio-economic development of Abia.

He said the budget had been designed to take the state out of underdevelopment, secure its next level of development and promote economic stability in Abia.

“It is not in error that we devoted 84 per cent of the budget to capital expenditure,” said the governor.

Mr Otti said borrowed funds would be utilised for infrastructure development. 

“We believe that as we require the funding, we will get it,” he said. “It is a budget that will spur investments both foreign and local and secure the state for the next level of development.”

He commended the speaker and his colleagues for their efforts and contributions toward the expeditious passage of the bill.

The governor expressed confidence that the relationship between the executive and legislative arms of government would continue to be cordial.

Mr Otti further said the state is blessed with a crop of legislators who understood that “governance is about the people”.

In an interview with reporters, the speaker of the House, Emmanuel Emeruwa, said the budget would be used to positively impact the lives of the citizenry.

Mr Emeruwa said the House was articulate and expeditious in ensuring the bill was passed into law.

Also, Deputy Speaker Austin Okezie said the house would be actively involved in ensuring that every component of the budget was effectively implemented.

The House Committee on Budget and Planning chairman, Mathias Ume, described the budget as “first of its kind” that would further drive the government’s rebuilding agenda.

(NAN)