The Abia State Governor, Okezie Ikpeazu, on Monday presented to the state House of Assembly the state’s 2020 budget estimates of N136, 617,847,316.
Christened “Budget of Economic Repositioning,” the budget outlay is slightly less than the N140, 944,885,770 of the 2019 budget.
The decrease, Ikpeazu explained, “is a moderate decrease occasioned by our resolve to formulate a realistic budget, while working hard to improve revenue generation and expenditure management approach.”
The budget had N66, 802,247,316 as its recurrent expenditure and N69, 815,600,000 as capital expenditure.
He said the recurrent expenditure represented 48.90 per cent of the total budget while the capital expenditure represented 51.10 per cent of the budget.
Ikpeazu added, “The draft estimates are intended to strategically strengthen our achievements in areas such as creating conducive environment for local and foreign investors, providing opportunities for human capital development, revitalising social services as well as building critical infrastructure for sustainable development.”