The 2021– 2023 budget titled Abia State Budget Proposals (Estimates) was presented to the 7th Abia State House of Assembly on Monday.
Ikpeazu hoped that the 7th Assembly would pass the bill into law to enable implementation to commence by 1st January 2021.
He said the budget targets recovery of the State economy with a measurable growth path from COVID-19 pandemic going forward adding that his administration would support local technologies and techniques.
He further stated that the 2021 – 2023 Medium Term Expenditure Framework emphasizes local contents and sustainable development.”
“The Total projected Budget outlay for 2021 fiscal year is N131,815,753,720 (One Hundred and Thirty-One Billion, Eight Hundred and Fifteen Million, Seven Hundred and Fifty-Three Thousand, Seven Hundred and Twenty Naira only) showing an increase of 22.12% from 2020 Revised Budget.
“In preparing this 2021–2023 Multi-year Budget, consideration was given to effective and efficient resource allocation and utilization.
”We considered reinventing the Abia spirit of industry and ingenuity. To this end, we intend to stimulate industrialization through the establishment of Cottage Industries in each of the 17 LGAs of the State.”