Abia 2024 budget would be financed by loans, according to Gov
According to Alex Otti, the governor of Abia State, if the state’s internally generated revenue is precisely designed, the 400 billion dollars in loans should be cut to the bare minimum.
Otti made this statement on Saturday at a special presentation of the state’s two-day retreat’s outcomes for IGR stakeholders in the state’s Ministries and Departments.
Otii also gave the participants the task of developing a long-term plan that would raise the state’s IGR and restore its financial viability.
“The first phase of the retreat took place in Umuahia two weeks ago,” Otti stated. While significant progress has been made, more work still needs to be done. The government anticipates high income. The resources available to you are what you utilize to govern your state.
It is a misnomer for subnationals to go to the center cap in hand for allocations, he continued, adding that in other climates, Abia government-generated cash is utilized to operate the economy.
“Loans and advances are to be used to finance a large portion of the 2024 budget,” the governor declared. We won’t borrow as much at the end of the year as we have planned, in my opinion. There is no reason why the approximately 400 billion that are intended to be raised as loans should not be lowered to the bare minimum if we follow the correct procedures.
Therefore, we anticipate a scenario in which our IGT will soar and beyond our loan provisions. We anticipate not having borrowed as much money as we had planned to at the end of the year.
Regarding the cessation of entitlement payments to past governors and deputy governors, he expressed his belief that he had made the correct choice.
My deputy and I would likewise be “former” very shortly. Therefore, no one is the target of the new policy. It is for reduced governance costs and for improved governance. To put it simply, we think that’s the proper thing to do.
Politics, in our opinion, is not a business. Before coming to serve, we think individuals should have something to do. Additionally, you must to be prepared to make the necessary compromises if you have volunteered to serve.
If you find yourself in this situation, consider yourself fortunate that others support and vote for you because they think highly of you. It is a privilege, and you should at the very least be willing to give up something in order to further the interests of the state. Thus, the time of exchanging cash is passed. Additionally, the era of bloodtonic politics is past. Now is the moment to give up something in the state’s best interests.
