Governor Hope Uzodinma of Imo presented the state appropriation bill totalling N592.2 billion for the 2024 fiscal year to the House of Assembly on Tuesday for consideration and approval.

The bill, christened “Budget of Renewed Economic Growth,” comprised N100.99 billion in recurrent expenditure, representing 17 per cent, and N491.2 billion in capital expenditure, representing 83 per cent.

Presenting the bill on the house floor, Mr Uzodimma said the capital expenditure increased by 32 per cent.

According to him, this indicates his determination to stimulate and fast-track the state’s economic growth.

He said the budget “is focused on the state’s rapid economic growth.”

The governor promised that every fund projected for the development of the state must be judiciously used to achieve a common goal.

Mr Uzodimma further said his administration would continue vigorously pursuing his vision to establish a state “where justice and equity for all are guaranteed.”

He further said his administration would remain prudent and cut off frivolous expenditures to fund capital projects.

“Prudent and efficient management of public funds is the new norm that cannot be compromised.

“As always, all capital projects must be subject to due process, routine scrutiny and audit,” he said.

Mr Uzodimma urged the house to grant the budget accelerated passage to ensure it was ready on January 1, 2024.

Earlier, the speaker, Chike Olemgbe (APC-Ihitte Uboma), commended the governor for ensuring a harmonious working relationship between the executive and legislature.

Mr Olemgbe said the 2024 budget aims to provide more infrastructure and facilitate other government economic activities for the people’s general good.

Mr Olemgbe thanked the governor for being the “most responsible fiscal governor since the inception of the state.”

He adjourned the house to December 14 for the second reading of the budget bill.

(NAN)