ByÂ Chidi Nkwopara
OWERRIâ€”Imo State Government has proposed a total budget of N120,110,943,148, made up of a recurrent revenue of N65,796,044,206 and recurrent expenditure of N48,052,966,467 for the 2010 financial year.
Presenting the estimates, which Governor Ikedi Ohakim tagged â€œBudget of Renewalâ€ to members of Imo State House of Assembly, the Governor also put the estimated transfer to capital fund at N17,743,077,739.
â€œUnder the Consolidated Revenue Fund Charges, we have provided N2 billion for payment of pensions, almost 100 percent increase from N1.5 billion actually paid in 2009; N813,000,000 for gratuities’ payment and bond repayment of N4.3 billion, among others,â€ Ohakim said.
Putting total capital receipts at N54,314, 898, 942, the Governor also fixed the total capital fund and estimated capital expenditure at N72,057,976,681 and N72,057,976,681 respectively.
Giving some specific details, Ohakim said â€œthe ambition of this administration to open up all parts of the state and make the state accessible as one mega city-state will be pursued through massive road rehabilitation in all the local government areas.â€
He also promised that government will embark on massive rehabilitation of utilities in order to continue to provide adequate water supply and electricity to the people, pointing out that the Owerri Water scheme will be refurbished in line with the administrationâ€™s to make Owerri a flagship city.