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Imo Assembly Approves N592 Billion Budget for 2024

The 2024 fiscal year’s N592 billion appropriations bill was approved by the Imo State House of Assembly.

At the House of Assembly’s plenary meeting, the bill was approved on its second and third readings.

The “Budget of Renewed Economic Growth” included N101.99 billion, or 17% of total expenditures, for recurrent expenses and N491.2 billion, or 83% of total expenditures, for capital expenses.

Speaking on the bill, the majority leader, Hon. Kanayo Onyemaechi (APC-Owerri West), claimed it would guarantee the implementation of several development projects for the benefit of the state.

He claimed that the governor had used the 2023 budget wisely, especially when it came to the state’s road restoration and reconstruction.

The state governor’s good intentions were portrayed in the bill, according to Hon. Chisom Ojukwu (APC), the member representing Nkwerre constituency.

The chairman of the Standing Committee on Budget and Appropriations, Ojukwu, praised the governor for implementing safeguards to prevent resource misappropriation.

 

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