Abia: Governor Orji signs 2014 N115bn budget into lawIgnatius Okpara, News, News From The State Saturday, April 5th, 2014
IGNATIUS OKPARA, Umuahia
Governor Theodore Orji of Abia state on Friday signed the 2014 budget of N115.3 billion into law.
African Examiner reports that the governor, had on the 30th of December, 2013 presented a budget proposal of 149.6 billion naira to the state House of Assembly, which was later followed by its breakdown by the state Commissioner for Finance, Mr. Philip Nto on January this year 2014.
However, after studying the budget, the state Legislature slashed it from 149.6 to 115.3 billion naira
Hon. Ude Okechukwu,Speaker of the state House of Assembly had during the budget passage, explained that the adjustment became necessary following the harmonisation of policy thrust of Ministries, Departments and Agencies (MDA)s with the actual appropriation submitted to the House.
He stated that the 2014 Appropriation law was carefully crafted in the context of medium term expenditure framework which takes cognizance of projections for years 2014 -2016 and in line with the state government’s avowed effort to ensure that the 2014 budget complies with International Public Sector Accounting Standards (IPSAS).
The speaker also pointed out that the budget would accelerate the completion of all ongoing legacy projects in various sectors of the Abia economy, expand the revenue base of the state, integrate the structure of the state chart of Accounting into budgeting and budgeting control mechanisms among others.
He however, charged all implementing organs of government to strictly see to it that none of the budget’s approved provisions is circumvented.
Giving his accent to the law at the Executive Council Chambers of the Government house, Governor Orji, who is also chairman, south east Governors forum, hailed the House of Assembly for painstakingly and speedily passing it.
Orji gave assurances that the budget will be implemented.
He disclosed that he had authorized the harmonization of all revenuesn hence all taxes and revenues will be paid directly through the banks
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