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Gov. Alex Otti presents N750bn 2025 budget estimates to Abia Assembly
The Speaker of the Abia State House of Assembly, Rt. Hon. Emmanuel Emeruwa, commended the Governor for his prudent management of resources and development efforts. He assured him of the lawmakers’ support and promised an expedited review of the budget.
Governor Alex Otti has presented the 2025 Appropriation Bill of N750 billion to the Abia State House of Assembly for consideration and passage into law.
The budget, christened the “Budget of Sustained Momentum,” allocates N611.7 billion (82%) for capital expenditure and N138.6 billion (18%) for recurrent expenditure. It reflects a 30% increase from the 2024 budget of N523 billion.
Governor Otti emphasized that the budget aims to consolidate the achievements of his administration:
Agro-Industrial Processing Zones: N13 billion has been earmarked for establishing zones in Bende, Ukwa, and Umunneochi LGAs.
Road Projects: N55 billion is allocated for ongoing and new road projects across the 17 LGAs, including the construction of 170 kilometers of rural roads (10 kilometers per LGA).
Education and Health: Both sectors retain their 2024 allocations, with 20% for education and 15% for health.
Umuahia Regional Water Scheme: N4 billion is budgeted for revamping and reticulating the 47-kilometer pipeline.
The Governor highlighted ambitious revenue goals:
A 213% increase in Internally Generated Revenue (IGR) to N100.6 billion.
A 96% rise in statutory allocation to N183.4 billion.
A 55% increase in grants to N25.5 billion.
A 35% rise in VAT revenue to N55.1 billion.
The balance of N364.1 billion (51% of the total) will be financed through borrowing from domestic and multilateral sources, but only for developmental projects.
Governor Otti emphasized that no loans were taken to finance the 2024 budget, and all borrowing in 2025 will be project-specific. He stated:
“For the 2024 fiscal year, no funds have been borrowed to date. Instead, we have taken steps to pay off old debts while maintaining zero indebtedness to contractors. Borrowing shall only occur when absolutely necessary and will be used for projects that can repay the loans.”
The Speaker of the Abia State House of Assembly, Rt. Hon. Emmanuel Emeruwa, commended the Governor for his prudent management of resources and development efforts. He assured him of the lawmakers’ support and promised an expedited review of the budget.
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