(N1,016,228,072,651.99), to the Abia State House of Assembly for consideration.
The 2026 appropriation bill, which has 13 percent increase from the 2025 budget, allocated eight hundred and eleven billion, eight hundred and thirteen million, seven hundred and sixty nine thousand, eight hundred and sixty two naira, twenty four kobo (N811,813,769,862.24), representing 80 percent of the estimate to capital expenditure and two hundred and four billion, four hundred and fourteen million, three hundred and two thousand, seven hundred and eighty nine naira, seventy five kobo (N204,414,302,789.75), representing 20 percent of the total budget to recurrent expenditure.
Presenting the budget estimate christined "Budget of Acceleration and New Possibilities" at the chambers of the State House of Assembly, the Abia State Governor Dr Alex Otti noted that as usual, the education and health sectors got 20 and 15 percentages each, making it a total of 35 percent of the total budget.
According to the Governor, "This figure represents a 13% increase from the 2025 appropriation numbers and captures the scale of our ambition to drive rapid socioeconomic growth and sustained development through investments in infrastructural projects, social services, security and similar outlays that are at the heart of the on-going transformation of the State.
"A total outlay of N811.8 billion for capital projects represents a 32% jump from our 2025 proposal which stood at N726.4billion.
"Conversely, the size of the envelope for recurrent expenditure has been raised by 33% from last year’s figure which stood at N136 billion. The increase is to enable us support critical day-to-day administrative functions and effectively meet our obligations to personnel especially with the addition of thousands of new employees to the payroll", Gov. Otti stated.
The Governor explained the rational behind committing 20 percent of the total budget to education and 15 percent to health among other sectors, and assured that his government would continue with his aggressive road infrastructure development programme in 2026, with the sum of N169.3 billion representing 16.7% of the total envelope allocated to road construction, reconstruction, rehabilitation and maintenance.
Governor Otti said that the State's budgetary outlook for 2026 is firmed on a set of conservative estimates drawing from the economic dynamics of 2025 and the forecast of credible financial analysis.
He noted that, with the recent strides recorded in infrastructural development and the leap in investors’ confidence, the State projects an increase in the State’s IGR portfolio to N223.4 billion and announced that, "the target for 2026 is that all recurrent expenditures shall be funded from our IGR receipt while what is raised from external sources would be committed strictly to infrastructural development.
"As I announced on this same podium in 2023 and 2024, we shall borrow only when it is absolutely necessary and such funds shall be deployed only for the execution of projects that will ultimately liquidate the loans in medium to long term", Gov. Otti stated.
The State Chief Executive thanked the Speaker and members of the State House of Assembly for the support given to him in his efforts to improve on the lives of Abians. He equally thanked Abians for their sustained support and assured of his commitment to making lives better for the people.
Responding, the Speaker, Abia State House of Assembly, Rt. Hon. Emmanuel Emeruwa commended Governor Otti for his prudent management of the States resources and appreciated his efforts in developing the State .
He assured the Governor that the House will give the appropriation bill accelerated hearing and do the needful.
The Deputy Governor Engr. Ikechukwu Emetu and members of the State Executive Council accompanied the Governor to the State House of Assembly.
Post a Comment