Abia Proposes N96.7b For 2016

Abia State Government has proposed a budget outlay of N96.7 billion for the 2016 fiscal year representing a shortfall of 22.8 percent of the previous estimate of N105.8 billion.

According to Governor Okezie Ikpeazu, the budget tagged ‘Budget of Restoration Through Enterprise is based on the resolve of his administration to build on the gains of previous governments.
In the outlay tabled before the Abia State House of Assembly Thursday, he proposed a capital expenditure of N 37.8b while recurrent expenditure shall be N58.9b.
He explained that it is the resolve of the government to improve on the internally generated revenue by more than 30% of with a view to making the economy more self reliant, adding that a huge chunk of the revenue to pursue the estimate would be from FAAC and VAT and complemented by the projections from independent Revenues,Aids and grants,loans and other sources.




Check the Daily Independent newspaper for the full story.






























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