By Onyekachi Eze
Governor of Imo State, Senato Hope Uzodimma has presented the 2025 appropriation Bill to the Imo State House of Assembly.
This was performed yesterday, December 23, 2024 at the Hallowed Chambers of the State Legislature.
He christened it, “Budget of Expanded Economic Opportunities” with a total sum of ₦755,588,041,220b.
It has a Recurrent Expenditure of ₦112,302,000,000 (14.9%), an Overhead cost of ₦44,900,000,000, Personal Cost of ₦39,100,000,000, with a Subvention of ₦18,202,000,000, C.R.F10,100,000,000.
The 2025 budget according to Uzodimma also has a Capital Expenditure of ₦643,286,041,220 (81.1%),
Economic Sector ₦562,408,411,220, Social Sector ₦63,908,234,000, Admin Source Sector ₦16,969,396,000, Revenue ₦755,588,041,220, I.G.R ₦42,577,065,257, FAAC Allocation ₦293,154,121,949, Capital Receipts ₦419,856,584,014.
Other components of the budget speech have special allocations and percentage for some key Ministries as follows;
“Ministry of works and infrastructural development: ₦296,461,152,778
46%, Transport: ₦101,010,000,000 16%,
Power and electrification: ₦74,755,479,042
12%, Tourism and hospitality: ₦30,210,000,000 5%, Health ₦22,933,234,000 4%, Environment and sanitation: ₦21,130,000,000 3.3%, Livestock: 20,000,000,000 3%,
Agriculture and food security: ₦12,011,958,780 2%, Housing: ₦7,865,000,000 1.2%, Education: ₦7,420,000,000 1%.
Speaking further, the governor highlighted that the budget framework is benchmarked on the following macroeconomic projections:
“The Federal Government’s Medium Term Expenditure Framework, MTEF and Fiscal Strategy Paper, FSP; Economic growth rate 3.4%, Exchange rate is N1,500 per USD, The adoption of the oil benchmark of 75USD;
Economic growth of 3.4%, Inflation 20.7%,
The effect of the Ukrainian war on the market forces as well as the Federal Government’s economic reforms and other macroeconomic indices. Please find below the summary of the 2025 Budget”.
Uzodimma assured that he has set out priorities, and his goal aimed at concentrating their implementation so as tk to achieve maximum results.
He commended the House of Assembly for their rapt attention and continued synergy with the Executive in serving Ndi Imo better.
Therefore he said, “Imo People will judge you for the number of bills and motions you enacted or passed to make their lives better and not for any form of grandstanding. So far, you have done well in your legislative assignments, and I urge you to keep them up”.
Governor Uzodimma added, “So my goal is to leave Imo state better than I found it. I will never betray the confidence and trust you have in my capacity to govern you, as evidenced by the massive votes you gave me during the last election. I am the governor of Imo State and not the governor of a political party. I shall continue to be just and fair in the exercise of this sacred mandate.
“I understand that some politicians are already ganging up for 2027. They have vowed that they will use all means possible to produce the next governor of the state. My advice to them is that they should tread carefully because power belongs to God, and only He can give it to whomever He will.
“So, let me again appeal to our political opponents to repent. Election is over, and politicking is over. This is the time to serve Imo people. Join me in that service. I assure you that I will welcome you with open hands and that your contributions will be cherished. Imo State belongs to all of us. It belongs to our children. It belongs to our unborn generations.
“Let us not destroy our common heritage for our selfish political fantasies. In all we do, we must remember that history will remind us ofwhat we did or failed to do”.
He recalled that the over 20 years backlog of gratuities to pensioners have so far been paid up to 60%, and more ongoing.
The Lawmakers who took turns to comment, lauded the governor for his leadership dexterity in the State especially for his inclusive government.
They described it as a thorough budget that captures all the needs of Imo people.
The Honourables; Chisom Ojukwu, Clinton Amadi, Chigozie Nwaneri, James Esile, Kanayo Onyemaechi, were much delighted for the Executive-Legislature relationship.
The Deputy Speaker in his vote of thanks didn’t mince words in congratulating governor Uzodimma for a successful, all encompassing bill.
Rt. Hon. Amara Iwuanyanwu assured that the House will give the bill accelerated passage to enable the governor carry-on with his quality, good projects.
The House of Assembly Bill number 26 was however adjourned for second reading on December 30, 2024.
