NewsReel 3/1/13 - Abia State 2014 Budget Speech

[ Masterweb Reports ] - GOVERNMENT OF ABIA STATE 2014 BUDGET SPEECH, AS PRESENTED TO THE STATE HOUSE OF ASSEMBLY BY HIS EXCELLENCY, CHIEF T. A. ORJI (OCHENDO), GOVERNOR ABIA STATE, HOLDING AT THE CHAMBERS OF THE STATE HOUSE OF ASSEMBLY, UMUAHIA, ON THE 30TH DAY OF DECEMBER, 2013
 
 
PROTOCOLS
DISTINGUISHED LADIES AND GENTLEMEN!
 
 
I have the pleasure and honor to present to this distinguished Honorable House, the 2014 Budget of the State. This budget has been prepared in the context of the Medium Term Expenditure Framework, which looks at the projections for the year 2014 to 2016, using the year 2012 budget, as the base year for our journey to 2016.
 
 
When we signed in along with other States to commence the Cash Budgeting and Accounting system, we instantly established a continuous improvement process in our budget formulation exercise. The positive impacts will begin to be felt in our 2014 budget process.
 
 
It is important that we make public, the efforts being made by this Administration towards the realization of our Development Goals and Objectives for the next fiscal year. It is no longer in doubt that the State is making giant strides to enable us emerge as one of the strongest economies in Nigeria, and this has been given credence through our numerous legacy projects that are on-going in every sector of our economy.
 
 
We are presenting this budget at this time of the year, because of our avowed efforts to ensuring that the 2014 budget is compliant to International Public Sector Accounting Standards (IPSAS). This achievement shows that we are serious in introducing a lasting legacy in our fiscal management process – in line with international best practices, and equally fulfilling a condition necessary for attracting foreign investors to the State.
 
 
The new budget has been designed for better policy formulation, fiscal planning, budget analysis, accountability, routine financial management, and international comparisons.
 
 
The State Budget for 2014 focuses on continued acceleration of ‘building physical and human infrastructure for job creation and poverty eradication’. We expect to achieve these through scaling up of our expenditures in Health, Education, Agriculture, Water Resources, Environment, Housing, and Support for Women and Youth Empowerment Programmes.
 
 
Distinguished Honourable members of our State House of Assembly, with the features that I have highlighted here, it becomes obvious that the 2014 budget is about People and the speeding-up of the delivery of basic social and infrastructural services in our State.
 
 
The 2014 budget is also expected to positively transform our State in the areas we consider more critical and urgent, which include the followings:
Peace and Security
Infrastructural Development
Improved Health Care Delivery
Enhanced Internally Generated Revenue (IGR), and
Education
 
 
 Focus on these sectoral objectives will enhance the creation of new job opportunities for our youths, women, as well as boost commercial and investment activities in the State.
 
 
BUDGET ASSUMPTIONS:
 
 
-        FISCAL ENVIRONMENT
 
 
Today it is evident that we are recovering from the economic and social costs that accrued from the insecurity of our environment in past, as posed by kidnapping and other violent crimes in the State. Those conditions had left the State with an economic out-look that did not offer much optimism. We can now plan for the future as the anxiety that pervaded the entire State has been permanently put behind us by this Administration.
 
 
We will continue to invest in the security of our State and people to consolidate the gains we have so far achieved.
 
 
Our State derives the bulk of its budget funding from Federal Government sources, but we are resolved not to continue along that trend that depends on the Federal Government’s economic posture - in the running of our State economy. This is why we are restructuring and intensifying our Revenue Generation efforts, so that it begins to fund our budgets from 2014 and beyond. We have also introduced measures to reduce our dependence on statutory allocations for the funding of both recurrent and capital expenditures.
 
 
-        FISCAL CONTROL POLICY MEASURES
 
 
The Administration proposes to ensure full implementations of the 2014 budget through the following control measures:
 
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