Abia to spend N96.7b in 2016

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abia-state-mapThe Abia State government has proposed to spend a total sum of N96.7 billion in the 2016 fiscal year.

Governor Okezie Ikpeazu disclosed this while presenting the state’s 2016 budget estimates to the State House of Assembly for approval.

Christened “The Budget of Restoration through Enterprise”, the 2016 Budget has an estimated outlay of N96.7 billion, an outlay that shows 22.8% decrease over the 2015 Budget outlay of N127.5 billion.

Speaking at the floor of the House of Assembly, Gov. Ikpeazu said the budget is anchored on the International Public Sector Accounting Standard (IPSAS).

This, Ikpeazu said means that the fiscal management of his administration would be strictly guided by the principle of international best practices where prudent utilization of resources remains the prevailing norm.

His administration’s programmes/policies, he said, will enhance the following Economic Development, Environmental Sustainability, Social inclusion, and Positive Governance, pointing out that the Budget has been designed “for better policy formulation, fiscal planning, budget analysis and accountability.

“It has a modest nature which shows an indication that it will be realizable within the financial capacity of the State”.

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