Governor Rochas Okorocha of Imo State on Wednesday presented a budget estimate of N190, 921, 464, 290 to the State House of Assembly for the 2018 fiscal Year.
The budget which represents 45.58 per cent increase compared to last year’s budget is tagged “Budget of Consolidation and Continuity III.”
N132.98 billion, representing 69.70 per cent of the total budget, is earmarked for capital expenditure, while N57.943 billion, 30.30 per cent, is for recurrent expenditure.
Presenting the budget at the Chambers of the Imo State House of Assembly, Governor Okorocha said “the 2018 budget would not only consolidate our development efforts but would ensure prudence and efficiency in our expenditure programmes.
“This administration intends to use the limited resources at our disposal to achieve maximum impact. We intend to achieve synergy through collaboration and integration of programmes and projects at all levels in order to realize our vision of making Imo better. All relevant agencies of government would be strengthened to gear up towards their constitutional responsibilities to ensure that all programmes and projects are being monitored at all times.”
A further breakdown of the budget revealed that Works and Transport has the bulk allocation with N39, 811,300,000, followed by education with N13, 500,000,000.
Agriculture and Environment has N7, 622,990,049, while the Ministry of Culture has N440, 244,096.