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Okezie Ikpeazu, the Governor of Abia State, has signed the 2021 Appropriation Bill into law.
The bill, which was passed by Abia State House of Assembly on Tuesday, was presented to the Governor by the Clerk of the House, Sir John Pedro Irokansi in his Aba Lodge where he endorsed the ₦131,852,752,000.00 (One Hundred and Thirty-One Billion, Eight Hundred and Fifty Two Million, Seven Hundred and Fifty-Two Thousand Naira Only) Budget made up of N69b for capital expenditure and N62.8bn for recurrent expenditure.
Governor Ikpeazu presented the christened Budget of Local Contents and Sustainable Development to the state House of Assembly on the 7th of December, 2020.
The budget, which is 21.12 per cent higher than last year’s appropriation, comprised ₦62.6bn recurrent expenditure and ₦69b capital expenditure.
Ikpeazu explained that the budget was inspired by the quest to reinvent the Abia spirit of industry and ingenuity and stimulate industrialisation through the establishment of Cottage Industries in the 17 council areas of the state.
According to him it would also help to rejig agencies of government to ensure they become more productive, coordinate effective delivery of services to Abia people, and interpret the vision of delivering multi-sectoral growth across the state’.
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