Toba Owojaiye reporting
Abia, Nigeria
In a historic move, Governor Alex Otti of Abia State has set a remarkable precedence by allocating a staggering 85% of the state’s 2024 budget, totaling N567.2 billion, to capital projects. This decision marks the first of its kind since Nigeria’s return to civilian rule in 1999.
Truth Live News gathered that Governor Otti, in a tweet on Friday, announced the signing of the Appropriation Bill, emphasizing its transformative impact on the state. He stated, “The budget is a manifestation of our collective vision for a better Abia, focusing on infrastructure, security, education, health, agriculture, and other vital sectors.”
Highlighting the government’s commitment to fiscal responsibility, Otti revealed that 84% of the budget is allocated to capital expenditure, while 16% is assigned to recurrent expenditure. He underscored the strategic use of borrowed funds, ensuring they are invested in income-generating projects that stimulate job creation for the citizens.
Governor Otti expressed confidence that this budgetary allocation would attract both foreign and local investors, fostering economic growth and propelling the state to new heights of development. He extended gratitude to the State House of Assembly for their swift passage of the bill and urged citizens to support the budget’s implementation while holding the government accountable for its promises.
The people of Abia State have responded positively to Governor Otti’s emphasis on infrastructure, recognizing the urgent need for development after years of neglect. However, some citizens advocate for a diversified focus in the 2025 budget, suggesting that attention should also be directed towards improving education and healthcare sectors in the subsequent budget.
As Abia State embarks on this unprecedented journey of prioritizing capital projects, Governor Otti’s bold decision sets a precedent that could influence fiscal policies in other states.
This may augur well for the stakes of Labour Party, as Governor Otti is the only Labour Party governor.