Governor Alex Otti of Abia State has officially signed into law the 2024 Appropriation Bill, which was recently passed by the State House of Assembly.

The budget, amounting to N567.2 billion, is expected to propel the state from its current state of underdevelopment to a path of progress.

During the signing ceremony held on Thursday, Otti expressed confidence that the budget would pave the way for transformative development in Abia. He emphasized that the budget allocation of 84% for capital expenditure and 16% for recurrent expenditure was a deliberate strategy to accelerate economic growth within a short timeframe.

The governor further highlighted that the majority of the borrowed funds would be channeled into infrastructure projects as outlined in the budget. Otti believed that these investments would attract both foreign and local investments, stimulate the growth of businesses, enhance security, and prepare Abia for future development.

Otti commended the State House of Assembly, including the Speaker, Rt Hon. Emmanuel Emeruwa, for their prompt passage of the budget. 

The Speaker affirmed that the budget would have a positive impact on the lives of the people of Abia. Meanwhile, the Deputy Speaker, Rt Hon. Austin Okezie Nmeregini, assured that the House would diligently carry out its oversight responsibilities to ensure effective implementation of the budget.

The budget signing ceremony was attended by members of the State House of Assembly, commissioners, special advisers, the Accountant General of the State, and other relevant stakeholders.