Business
Orji Signs N129.9b 2012 Budget
Governor Chief Theodore Orji of Abia has signed into law the state’s 2012 Appropriation bill of N129.9 billion.
In a brief speech in Umuahia on Monday, Orji assured that the “the budget of transformation’’ would be fully executed.
“One thing is to make the budget and another thing is to respect the law of the budget. I will obey the law; I will not throw it away.”
He explained that the 2012 budget articulated the yearnings and aspirations of the people of the state and was designed to ‘’transform the state from its ruins’’ to a prosperous level.
Orji disclosed that the government was considering obtaining loan to execute the budget.
“Abia has not taken any loan or bond, we have shown that we can work without borrowing.
“But for us to fast-track, because we are in a hurry to deliver, we may have to look for bond or loan to be able to increase our pace of development,’’ Orji said.
The governor explained that the greatest challenge facing the administration was inadequate funds, saying that efforts were being intensified to raise the state’s internally generated revenue.
He described the prevailing peace in the state as the greatest achievement of his government.
The governor commended the state House of Assembly for the speedy passage of the bill and collaborating with the executive to develop the state.
“I solicit the support of the house to call us to order anytime we err,” the governor said.
Earlier, the Speaker, Hon. Ude Okochukwu, said that the House had raised the budget from N122 billion presented to it by the Executive to N129.9 billion.
Okochukwu said that the adjustment was to accommodate the new minimum wage and stimulate the speedy execution of capital projects.
He explained that the budget ‘’is carefully crafted’’ to help in achieving a strong, diversified and competitive economy for the state and to create jobs, ensure peace and sustainable development.
The Speaker expressed the hope that the budget would ‘’increase investment in critical infrastructure, generate employment, wealth and sustain the government’s efforts at poverty reduction’’.