LIVE UPDATES
IMO STATE, Nigeria —The Imo state Governor, Hope Uzodimma, has presented the state’s 2025 budget to the Imo State House of Assembly to the tune of N756bn.
The budget totally N755, 588, 041, 0220, governor Uzodimma presented the budget at the floor of the state Assembly in Owerri, tagged, “Budget of Expanded Economic Opportunities.”
According to the governor, “This year’s budget represents a significant increase of over ₦163.3 billion colmpared to the 2024 budget, which stood at ₦592.2 billion.
One of reasons for the increase, as according to the Uzodimma was to accommodate the increaing needs of the state as well as to drive sustainable economic development in Imo.
He said: “The 2025 budget is divided into recurrent and capital expenditures. The recurrent expenditure stands at ₦112,302,000,000, while the capital expenditure is ₦643,286,041,220. The budget is expected to be financed through a combination of internal and external sources, including the Federation Account Allocation Committee (FAAC) allocation of ₦293,154,121,949, internally generated revenue (IGR) of ₦42,577,065,257, and capital receipts of ₦419,856,584,014.”
He pointed out that; “the allocation of ₦296,461,152,778, representing 46% of the capital budget, to the Ministry of Works and Infrastructure Development. This is a significant increase from the ₦180 billion allocated to the ministry in the 2024 budget.”
For other ministries, “the Education Ministry was billed to receive N7.420 billion while the Ministry of Livestock development receives N20.000 billion. Ministry of Transport, which got ₦101,010,000,000, representing 16% of the capital budget, and the Ministry of Power and Electrification, which received ₦74,755,479,042, representing 12% of the capital budget.”
It was the stand of the governor that; “the ₦72,600,766,110.80 loan burden he inherited upon assuming office in 2020 has been cleared, making the state an investor’s pride. “My administration has paid back the loans completely. Today, the perception of Imo State in the global financial market has changed for the better.”
While listing some of his achievements in the last five years, he pointed out; “There are ongoing efforts to rehabilitate and expand critical infrastructure especially the construction of rural roads across the three senatorial zones and ongoing work to provide a 24/7 electricity supply through the Imo State Electricity Distribution (ISED) project.”
Also, he insisted that his administration was committed to the project of dredging of Oguta Lake and Orashi River to connect them to the Atlantic Ocean.
“The government plans to hand over schools to religious institutions in 2025 as part of its strategy to improve the quality of education.” He noted that his agricultural policies would “enhance food security, the Achara Ugbu Farmland in Owerri North Local Government Area will be developed for large-scale agricultural production. The government also promised to support the AdaPalm project to boost palm oil production as well as modernizing key markets, including Eke Ukwu Owerri Market, and revitalizing industrial hubs such as the Onitsha Industrial Layout, as well as similar layouts in Orlu and Okigwe.”
