Abia State Nigeria Budget 2017
DISTINGUISHED LADIES AND GENTLEMEN!
It is my honour and pleasure to present to this distinguished Honorable House, the 2017 Budget of Abia State. As you are aware, our Budgets have been tailored to follow the Medium Term Expenditure Framework which looks at projections for 3-year plan period. This Budget therefore has projections for years 2017 to 2019 and is compliant with International Public Sector Accounting Standards (IPSAS).
The State is committed to fiscal management process in line with international best practices, making our State investment-friendly to foreign investors. This Budget is therefore packaged with the right policy formation, fiscal planning, budget analysis, accountability and routine financial management and will compare favourably with others.
It is common knowledge that the Nigerian economy is in recession. This has greatly determined the direction of our projections and informed the theme of the Budget. The 2017 Budget is christened “Budget of Prudence and Self Reliance”. This clearly shows government’s direction and the need to adjust accordingly. In the present harsh economic conditions being faced by Nigeria in general and Abia State in particular, prudence and self reliance demand that we balance our priorities against available resources and apply ourselves to looking inwardly to keep the ship of state sailing. In the present circumstance, the adage of “when the going gets tough the tough gets going” aptly applies in the way and manner the economic/financial engineering of the State’s resources will be handled in 2017.
We must take steps to show prudence and frugality in our financial management as well as tenacity of purpose in taking our destinies in our hands so that together, we can make Abia the envy of others.
In preparing this Budget, emphasis was shifted from applying our limited resources on many projects, to concentrating and focusing on our chosen pillars of development. The expectation is that we can quickly boost trade and commerce, agriculture and agribusiness as well as catalyze the emergence of a vibrant small and medium scale manufacturing hub in Abia. Every effort will be made in the 2017 fiscal year to develop the critical infrastructure that will guarantee our development.
Mr. Speaker, Honourable members of the House of Assembly, let me emphasize here that the outcome of this Budget is expected to give Abians access to quality agricultural produce; unhindered qualitative and affordable health care; access to qualitative education; security for all and give fillip to commercial activities.
Concerning Aba which is critical to the improvement of our IGR, every effort will be made in 2017 to sustain the vibrancy of the commercial capital of Abia State so it can operate at maximal capacity.