On Monday 19th December, 2011, His Excellency, the Executive Governor of God’s own State of Abia, Chief Theodore Ahamefule Orji, dutifully presented the state’s 2011 fiscal year budget to the State’s House of Assembly. In the words of the Governor the budget is that of Transformation.
The budget which has a cumulative of one hundred billion, one hundred and two million, three hundred and eighteen thousand, four hundred and seventy naira (N100, 102,318 470,) shows an increase of nineteen point eight (19.8%) over the 2011 fiscal year budget of eighty billion, two hundred and forty-four million, four hundred and fourteen thousand, five hundred and forty naira, (N80, 244/414,540). The objectives of the budget include, among other things, transformation of God’s Own State and sustenance of successes recorded in the state’s democratic experiment since May 2011, as well as repositioning the state on the path of sustainable economic growth and development.
It is expected that the budget will implement some components of the medium expenditure-framework for the state vision 20:2020, which will motivate integrated multispectral grass-roots’ developments predicated on enhancing sustainable socio-economic well-being of the people of the state.
As would be expected, strategies have been mapped out for the successful implementation of the 2012 budget .
- Transformation of Aba city as the commercial cum industrial hub of the nation.
- Consolidation of the state governmentís efforts in protecting the lives property and businesses of the citizenry.
- Transformation of moribund government-owned industries via Public-Private-Partnership approach.
- Reinvigoration of enabling environment for investment into the oil and gas sector, including a refinery, and
5. Consolidation on the achievements of government in the general health-care delivery in the state and adhering to a knowledge-based economy.
A breakdown of the budget shows that it will be financed by the under-listed projected recurrent revenue;
Internally Generated Revenue (I.G,R)†††††† ††= N22,202,318,470
Federation Account (FMC)††††††††††††††† ††= N58,900,000,000
Value Added Tax (VAT)††††† ††††††††††††††= N10,000,000,000
Derivation††††††††††††††††††† ††††††††††= N 9,000,000,000
According to the budget out-lay, recurrent expenditure in 2012 will be
fifty-six billion, nine hundred” and ninety-seven million, two hundred and fifteen thousand and seven hundred naira while the capital expenditure amount to sixty-five billion, three hundred and ninety-two million, nine hundred and twenty-four thousand, two hundred and twenty naira. The sum of forty-three billion, one hundred and five million, one hundred and two thousand, even hundred and ninety naira is proposed to be transferred from the recurrent revenue and an expected capital receipt of twenty-two billion, two hundred and eighty-seven million naira will be generated by way of grants and loans. The capital budget is separated into four main sectors as follows:
- Economic Sector†††††††††† ††=†† †N34,206,595,410
- Social Sector†††††††††††††† †=††† N 5,132.200,000
- Regional Sector†††††††††††† †=††† N 6,124,000,000
- General Administration†††† ††††=† ††N18,613,128,800,
Amounting to the sum of sixty-four billion, seventy-five million, nine
Hundred and twenty-four thousand, two hundred and ten naira. The economic sector of the budget encompasses
2. Manufacturing and Commerce
3. Energy and Power
4. Roads and Bridges.
In the social sector, qualitative and affordable education, quantifiable health, well-managed information services and sporting activities will receive a lot of boost. On the other hand, the regional sector will pay adequate attention to environmental and allied matters. General administration will gulp the sum of-eighteen billion, six hundred and thirteen million, one hundred and twenty-eight thousand and eight hundred naira.
All in all, the state budget of transformation is expected to take the state to its desired level of social, economic and political transformation. Successful implementation of budget 2012 is anchored on the state government’s adherence to due process, and uncompromising insistence on and pragmatic application of transparency.
May God continue to bless Abia State.
Chief (Sir) Don. Ubani, KSC, JP.
(Okwubunka of Asa)
Hon. Commr. for Information & Strategy