Imo Exco Okays Revised2020 Budget from ₦140b to ₦89b

GOVERNMENT OF IMOSTATE

PRESS RELEASE

Imo Exco Okays Revised2020 Budget from ₦140b to ₦89b

The Imo StateExecutive Council (EXCO) has approved the revised 2020 Budget of ₦140b to ₦89b.The proposal is to be submitted to Imo State House of Assembly within sevendays for consideration and approval.

Addressing newsmenafter the weekly Executive Council meeting held Wednesday, July 15, 2020, atthe Sam Mbakwe Executive Council Chambers, Government House, Owerri presidedover by Governor Hope Uzodimma of Imo State.

The Commissioner forInformation and Strategy, Declan Emelumba said that government decided toreduce the 2020 Budget in order to come to terms with the economic realities ofthe moment.

He said that theFederal Allocation and the State Internally Generated Revenue (IGR) have beennegatively affected by the economic crunch made worse by the COVID-19 pandemicthat has affected the oil revenue.

He informed that therecurrent revenue was reduced by 40 percent, from ₦32b to 19.6b and that thepersonnel cost was increased from ₦8.9b to ₦9.7b, whereas subventions werereduced by 47 percent, that is from ₦33.8b to ₦17.8b.

Emelumba stressed thatthe objective is to enable the state government fund its projects effectivelythrough IGR, saying that what the state wants do is to harness all her sourcesof IGR base.

The Commissioner alsoexplained that the meeting warned all land speculators to be wary and carefulof land buying and selling as government insists on embarking onrecertification exercise of all existing Certificate of Occupancy (C of O),noting that the process will soon be made public for claims and evidences wheregenuine land owners will be issued new C of Os.

He said Councilreiterated the determination of government to reopen schools, especially forthe students that are sitting for West African Schools CertificateExaminations, and that government will soon set up a committee of stakeholdersin the education sector, including Parents Teachers Association, to work outthe modalities necessary for the reopening of schools in line with the safetyprotocols of COVID-19.

For a start, theCommissioner said that Government will soon embark on the fumigation of schoolsinvolved in the reopening as one of the COVID-19 protocols.

Emelumba also informedof government determination to implement the ethics of the civil service whichdemands that all those working for government must imbibe the ethics of dignityand integrity. To achieve that, he said all civil and public servants who arenot ready to be on the same page with government must look elsewhere and/orchange their attitude to allow the system function properly.

Commissionerfor Finance, Mr Chuk Chukwuemeka added that the revised Budget proposal must bepassed this month to enable Imo State benefit from a World Bank multi-milliondollar intervention free fund called States Fiscal Accountability andTransparency and Sustainability Funds (SAFTAS) for 2020 which Imo State was notlucky enough to benefit in 2019 because of late passage the 2019 budget.

Chukuemekaadded that the essence of the revised budget is to incorporate the necessaryprocurement procedure and to allow government embark on the provision ofnecessary facilities that will cushion the effects of COVID-19 pandemic in thepost-COVID-19 phase and provide improved welfare to Imo people.

 

Oguwike Nwachuku

CPS/Media Adviser to the Executive Governor of Imo State

July 15, 2020