On Monday, Governor Hope Uzodimma of Imo State unveiled the 2025 budget to the state’s House of Assembly, proposing a hefty N756 billion (₦755,588,041,220) tagged as the “Budget of Expanded Economic Opportunities.” This budget marks a substantial increase of over ₦163.3 billion from the previous year’s allocation of ₦592.2 billion, aimed at meeting the escalating demands of the state and fostering sustainable economic growth.
During the presentation at the Assembly in Owerri, Governor Uzodimma detailed the budget split into recurrent and capital expenditures. The recurrent expenditure is set at ₦112,302,000,000, while a significant ₦643,286,041,220 is earmarked for capital projects. Funding for this budget will come from multiple sources including ₦293,154,121,949 from the Federation Account Allocation Committee (FAAC), ₦42,577,065,257 from internally generated revenue (IGR), and capital receipts amounting to ₦419,856,584,014.
A notable portion of the capital budget, ₦296,461,152,778 (46%), is allocated to the Ministry of Works and Infrastructure Development, showcasing a significant jump from the ₦180 billion it received in 2024. Other sectors also see considerable investments with the Education Ministry receiving ₦7.420 billion, the Ministry of Livestock Development getting ₦20.000 billion, the Ministry of Transport allocated ₦101,010,000,000 (16% of the capital budget), and the Ministry of Power and Electrification being granted ₦74,755,479,042 (12% of the capital budget).
Governor Uzodimma highlighted the financial health of the state, stating that debts of ₦72,600,766,110.80 inherited in 2020 have been fully repaid, enhancing Imo State’s attractiveness to investors. “My administration has paid back the loans completely. Today, the perception of Imo State in the global financial market has changed for the better,” he claimed.
Reflecting on his administration’s achievements over the last five years, Uzodimma mentioned ongoing infrastructure projects like the construction of rural roads and the Imo State Electricity Distribution (ISED) project for round-the-clock electricity. He also committed to environmental and economic projects like the dredging of Oguta Lake and Orashi River to connect with the Atlantic Ocean.
Educationally, the government plans to transfer school management to religious bodies in 2025 to enhance educational quality. In agriculture, the focus is on food security with the development of Achara Ugbu Farmland for large-scale production and support for the Ada Palm project to increase palm oil output. Additionally, there are plans to modernize markets and revitalize industrial areas across the state.
This budget presentation underscores a strategy for economic revitalization and infrastructural development in Imo State, with clear intentions to leverage these investments for broader economic opportunities.
I think the budget should prioritize healthcare and education over economic expansion. Peoples well-being should come first.
Economic growth benefits healthcare and education funding. A strong economy supports social programs.
Why not invest in healthcare and education instead of just economic expansion? Peoples well-being should come first.
Economic growth is crucial to fund healthcare and education. Its not an either/or situation.
I dont buy it! How can they claim economic expansion with such a massive budget? Seems fishy to me.
I dont trust politicians with budgets that big. Whos really benefiting from all that money? Something smells fishy.
I think the budget is too ambitious. Imo State should focus on improving existing infrastructure before expanding. Quality over quantity!
I think the budget is too ambitious. Why not focus on improving existing infrastructure instead of grand plans?
I think the budget is a bold move, but will it really benefit the people or just line the pockets of politicians?
I think the budget is too ambitious. Lets focus on fixing current issues before planning for the future.
Nah, progress happens when we aim high. Fix now, plan for tomorrow.
I dont trust these numbers. How can we be sure the budget will actually benefit the people of Imo State?
Trust the process. Transparency and accountability will ensure the budget benefits Imo States people.
I think the budget is too ambitious considering the current economic state. Maybe focus on more realistic goals first.
Ambition drives progress. Realistic goals limit potential. Aim high, even in tough times.
I dont trust politicians with budgets that big. Whats really going on behind the scenes? 🤔 #TransparencyIsKey
I think the budget is too ambitious. Why not focus on immediate needs like healthcare and education first? #priorities
Why focus on economic expansion when there are pressing social issues? Prioritize healthcare and education first. #ControversialOpinion
I think the budget should prioritize social welfare over economic expansion. People matter more than numbers!
Economic growth benefits everyone, including those in need. A balanced approach is key.
Wow, N756 billion budget for Imo State? Seems excessive. How about investing in social services instead of big projects?
Big projects can improve infrastructure and attract investment, benefiting social services in the long run.
Do you think the budget will actually benefit the people or just line the pockets of politicians? #Corruption #Skeptical
Why is the budget so high? Shouldnt there be more focus on social services and infrastructure instead of just economic expansion?
Economic growth funds social services & infrastructure. Its about balance, not one or the other.
I think the budget should focus more on social services like healthcare and education instead of just economic growth.
I think the budget allocation for infrastructure is excessive. Shouldnt more funds go to social welfare programs instead?
Infrastructure is the backbone of society. Better roads, schools, and hospitals benefit everyone.
I think the budget is too ambitious. Can we trust the government to use that money wisely for economic expansion?
Trust but verify. Hold them accountable for results, not just promises.
I think the budget is too ambitious. Shouldnt we focus on current issues before planning for 2025? 🤔
Planning for the future is crucial for long-term success. We can address current issues while also preparing for 2025.
I dont trust politicians with budgets that huge. How can we ensure this money is actually going towards economic expansion?
I dont trust these budget projections. They always end up being way off. Where does all that money really go? 🤔