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    Posted June 23, 2014 by

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    IMHA On Recess, Pass Budget 2014

    Having completed three years in office, Imo State House of Assembly has proceeded on recess to resume for their last lap in office on September 9, 2014 even as they have passed the 2014 budget of N117.1B tagged budget of Consolidation, which has a total of N61.3B as Recurrent expenditure and N75.6B for Capital expenditure.
    In his speech after the passage of the budget on June 19, 2014, the Speaker, Imo State House of Assembly, Rt. Hon. Benjamin Uwajumogu thanked all those who contribute to make the ending session a worthwhile.
    He reinstated that a total of One hundred and seventeen billion, six hundred and ninety nine million three hundred and seventy six thousand, six hundred and forty six naira, which is the 2014 appropriation bill successfully scaled through the first and second readings on the floor of the House, and was referred to the Committee on Budget and Appropriation for fine tuning.
    The Speaker announced that the faith of the bill was decided on the floor of the House when he read the report of the Committee of Budget and Appropriation who did a thorough job during the Committee of the whole House at plenary.
    He disclosed that the Committee recommended that the current drive by the State Government for Internally Generated Revenue is vigorously pursued at the State so as to provide a strong revenue base to implement its recurrent and capital expenditures.
    The report also noted that the two million naira monthly imprest given to Ministries, Department and Agencies was grossly inadequate and requested that this amount is stepped up to have a multiplier effect in the Public sector expenditure, adding that the appropriation bill excluded the consolidated revenue fund charges of nineteen billion, nine hundred and eighty five million, three hundred and two thousand naira.
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