The Imo State house of Assembly, Tuesday passed the year 2016 budget proposal presented to it by the state Governor, Owelle Rochas Okorocha to second reading and their after referred it to the house committee on budget and appropriation for further legislative actions.
Presenting the budget proposal for second reading, the majority leader of the house, Hon Lugard Osuji said that the budget estimate was sound and in tandem with the current realities in the state.
According to him, the budget proposal is self financing and that the budget when past into law would source funds majorely within the state.
Hon Osuji disclosed that the internally Generated Revenue would play a key role in the implementation of the budget which he tagged the budget of consolidation.
The majority leader who represents Owerri Municipal state constituency informed that the budget proposal if considered by the house would get over 40 percent of it funding through the IGR and it is aimed at blocking all financial lope holes and providing more dividends of democracy to the people of the state.
The lawmaker averred that the budget proposal provides for low administrative cost, urging his colleagues to move it to the committee stage where ministries and Agencies would be invited to defend their estimates .
The deputy speaker, Hon Ugonna Ozurigbo who added his voice to the bill urged his colleagues to pass it to the next stage of legislation because of it positive implications about the state and its people.
When the speaker, Acho Ihim put the bill into voice vote, the ays had it , even as Mr speaker assigned it to the house committee on budget and appropriation, urging them to report back to the house on may 31, 2016.
The budget proposal according to the majority leader is one hundred and two billion, two hundred and Eight million, four hundred and Eighty two thousand and thirty Naira (102,208,482,030)
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