The Imo State House of Assembly received an N447.4 billion budget proposal from Governor Hope Uzodimma for the 2023 fiscal year on Tuesday.
The appropriations measure is known as the "Budget of Wealth Expansion," according to Uzodimma.
According to him, the budget was split between N373.5 billion in capital expenditures and N150.4 billion in recurring expenses, or 22% and 78%, respectively.
The proposed 2023 budget is N66.4 billion (14.7%) larger than the 2022 budget, which was set at N381 billion.
The governor stated that the budget's goal was to fulfil the needs of the populace by bringing about a lasting dividend of democracy and increasing wealth for the Imo people.
He said that the budget will significantly rebuild deteriorated infrastructure in urban and rural regions, placing the welfare of the populace at the forefront of governance.
The governor gave the crowd reassurance of his "unwavering support and commitment" to the welfare of all Imo citizens.
He declared that there would be no tolerance in his government for financial misappropriation.
The house's support for his government was praised by the speaker.
When the budget was passed, he promised to "vigorously pursue the execution of policies, programmes, and projects contained in the budget."
The budget presentation, according to House Speaker Emeka Nduka, was a chance for a "retrospective look at prior years with a view to improving on the future."
The budget will be approved in plenty of time, according to Nduka, so that the governor could "continue his good job in 2023."
He expressed optimism that by providing infrastructure throughout the state, the budget will satisfy the needs of the people.
He also expressed gratitude to the governor for rebuilding a "digitised, world-class" house of assembly structure.
He said that the implementation of the 2022 appropriation law had been wisely done.
Amara Iwuanyanwu, the deputy speaker, also praised the governor for his "holistic implementation."
Iwuanyanwu expressed faith that the suggested budget will bring better times to the people of Imo.
The Speaker then called a recess to allow for the deliberation and second reading of the proposed budget, which would take place on December 21, 2022.