The Abia Assembly enacts the budget for 2024

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The budget plan for 2024 was approved by the Abia State House of Assembly and signed into law.

This came after the House Joint Committee’s extensive presentation on planning, budget, and appropriations.

The Ebantel remembers that on December 12th, Governor Alex Otti unveiled a draft budget that was estimated to be worth N567,240,095,972.

Otti suggested allocating 84% of the overall budget estimate for capital projects and 16% for recurrent expenses in the “Budget of New Beginning.”

The Speaker of the Abia State House of Assembly, Emmanuel Emeruwa, provided details on the 2024 budget proposal in a statement released on Friday. He revealed that the House Joint Committee on Appropriations made subtle changes that increased the recurrent expenditure to N91,498,547,579 from the original estimate of N91,228,778,079.

He claims: “At the same time, the capital expenditure was slightly decreased from N476,011,317,893 to N475,741,548,393, guaranteeing a fair distribution for certain projects and lessening the effect on individual MDAs.

The committee’s report was properly accepted as the house’s working document, starting the Committee of the Whole’s review of both the report and the bill.

The bill then got through its third reading with success and became official legislation. I stated that the new law would be known as the “2024 Appropriation Law of Abia State of Nigeria” and would go into effect on January 1st, 2024, when I announced the bill’s passage.

Emeruwa conveyed his sincere appreciation to his colleagues for their committed work and contributions, which made it possible to thoroughly review every aspect of the measure.

The Abia State House of Assembly has decided to resume its legislative work on Thursday, January 18, 2024, after adjourning plenary for the Christmas and New Year holidays.

 

 

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