Hope Uzodimma Presents 2023 'Budget of Wealth Expansion' to Imo House of Assembly
- Senator Hope Uzodimma has presented the 2023 budget estimate for consideration and appropriation by the Imo state House of Assembly
- Officials say the budget, which is anchored on a policy thrust of satisfying the desires of the good people of Imo state
- It also reflects a 23% increase in capital expenditure, with N373.6billion (78.8% of the total budget) earmarked
Owerri - The governor of Imo, Senator Hope Uzodimma, on Tuesday, December 20, presented a proposed budget of N474,466,276,267.00 to the state lawmakers for the 2023 fiscal year.
According to a statement sent to Legit.ng by the governor's media team, the proposed financial plan christened 'budget of wealth expansion' seeks to improve the state's economy, security, agriculture, education, health, and transportation sectors, amongst others.
Source: Twitter
Giving the draft breakdown, the governor disclosed that the total recurrent revenue for the 2023 budget was N150,450,189,428, while that of 2022 was N142,855,407,202.
He explained that the statistics represented a 5.1 per cent increase in revenue projection.
PAY ATTENTION: Subscribe to Digital Talk newsletter to receive must-know business stories and succeed BIG!
Uzodimma further explained that capital expenditure in the 2023 budget is N373,562,190,839 compared to N284,416,597,902 in the 2022 approved budget.
He said the figure showed a 23 per cent increase compared to the 2022 budget.
Giving a further breakdown, Uzodimma said Internally Generated Revenue, N79,844,525,976; Statutory allocation, N35,014,489,618; Value Added Tax, N15,774,358,033; Excess Crude, N2,966,000,000; 13 per cent Derivation Fund; N11,683,583,907.
Also, Other External Revenue N2,562,372,569; Exchange Gain difference N769,946,557, Forex Equalization Account N1,740,831,048; Excess Bank charges N94,081,720.
His words:
"Mr Speaker, honourable members, there can be a no-better opportunity to extend my appreciation to all of you for your undying support and commitment to the ideals of my shared prosperity administration. You have always been there to offer legislative cooperation whenever needed.
''Without a doubt, you have been worthy partners in the faithful implementation of our vision of a prosperous and peaceful Imo state. I thank you all immensely, and I remain proud of you all.
"As you can deduce from the budget estimates which I am laying before you today, my administration is ever committed to the wellbeing of every Imo person; child, boy, girl, man and woman, including the aged and the disabled.
"We will continue to vigorously pursue those policies and projects that will create wealth for the ordinary Imo people, provide enabling environment for investors and ensure the security of the lives and property of Imo indigenes and residents.
''This is the social contract which I entered into with the good people of Imo state, and by the grace of God, I shall keep it with every energy at my behest.
"It is also in the spirit of this social contract that I am glad to inform my esteemed Imo people that my administration has taken necessary legislative measures to ensure that henceforth, those who loot, or looted, the commonwealth of Imo people are promptly brought to book."
Hope Uzodimma reveals the objective of Imo's 2023 budget
Writing on his Facebook page, the governor announced the objective of the budget, saying his administration has maintained healthy budgets since coming into power.
His words:
''The objective of the budget is to satisfy the desires of the good people of our dear state, promote the sustainable economic development of the state, and most importantly, expand wealth and prosperity across the state.
''I believe that the Speaker and Members of the Imo state House of Assembly will expedite processes in consideration of the 2023 Budget of Wealth Expansion for appropriation.''
Governor Hope Uzodimma approves immediate promotion for Imo civil servants
Recall that Governor Uzodimma recently approved the rapid rise of the state's civil servants due for an upgrade.
Legit.ng gathered that the move is in line with Governor Uzodimma's promises to revamp the civil service and facilitate promotions of workers.
The governor gave the directive on Wednesday, November 23, at the Imo state executive council meeting in which he presided.
I'll continue to be an advocate of free, fair and credible election, says Uzodimma
Meanwhile, Governor Uzodimma has reaffirmed his commitment and advocacy for a free, fair and credible election.
The governor stated this as Imo played host to President Muhammadu Buhari and dignitaries from other parts of the country for the flag-off of the police senior officers conference in the state themed: 'The imperative of a Nigerian Police strategic plan for peaceful elections.'
Governor Uzodimma commended the Nigerian Police for choosing Imo as their host state and appreciated their efforts in restoring peace and enabling environment for the national gathering.
Source: Legit.ng
