The Governor of Abia State, Alex Otti, has presented a ₦750 billion Appropriation Bill titled “Budget of Sustained Momentum” for the 2025 fiscal year to the State House of Assembly.
Presenting the budget to the lawmakers on Tuesday, December 10, the Governor explained that the 2025 budget focuses on key areas that will benefit the people of the state.
According to Otti, the proposed budget aims to sustain the momentum of his administration, as indicated by the title of the Appropriation Bill.
The Governor informed the lawmakers that the budget reflects the economic hardships in the country, which have significantly affected the citizens of Abia State, adding that inputs from residents were carefully considered.
He further stated, “The draft of the 2025 budget has been comprehensively put together to capture the most important development priorities of our people.
“This budget has been prepared with the active input of Abians who participated in the various citizens’ engagement sessions organized by the State Ministry of Budget and Planning to share their expectations as individuals and groups.”
Speaking on the funding of the bill, Otti said, “We project an increase in the state’s internally generated revenue (IGR) collection by 213% to ₦100.6 billion, a 96% rise in statutory allocation to ₦183.4 billion, a 55% increase in grants to ₦25.5 billion, and a 35% rise in VAT to ₦55.1 billion. We shall finance the balance of ₦364.1 billion, representing about 51% of the total envelope, through borrowing from domestic and multilateral channels.”
The Governor promised that the budget, if approved, would be used judiciously for the benefit of the people.
“This administration, as I had earlier mentioned, has demonstrated great discipline in managing our collective resources. We shall do even better in the coming year to create an all-inclusive growth model,” he said.
Otti reiterated that Abia State, under his administration, has not borrowed any funds to execute projects.
He said, “Mr. Speaker, I am pleased to report that for the 2024 fiscal year, no funds have been borrowed to date. Instead, we have taken steps to pay off old debts while maintaining zero indebtedness to contractors.”
Revealing the only circumstance under which the state would take a loan, he concluded, “I may have to add at this point, as I did last year, that we shall not borrow a penny to finance recurrent expenditures. Any borrowing shall occur only when necessary and will be deployed strictly for the execution of projects that will ultimately repay the loans.”
Otti urged members of the House of Assembly to give the proposed budget a speedy review and approval.
The Speaker of the State House of Assembly, Rt. Hon. Emmanuel Emeruwa, commended the Governor for his detailed budget presentation and expressed optimism that it would sustain the administration’s momentum.
Emeruwa assured the Governor that the House would prioritize the consideration of the bill.
