Okorocha Presents N102.2bn Budget for 2016 Fiscal Year

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Imo State Governor, Rochas Okorocha has presented a budget of N102,208,328,832 for the 2016 fiscal year, to the state House of Assembly, tagged “Budget of consolidation and continuity.”

Okorocha while making the presentation said “The budget consists of N44.043 billion capital expenditure, representing 43.1 percent of the total budget and N58.165 billion recurrent expenditure, which represents 56.9 percent of the total budget.”

He set the recurrent revenue at N76,074,165,612, while the capital receipts was put at N26,134,316,419.

He disclosed that outside taxes, the government intends to collect over N522.55 million through the Imo Geographic Information Services, IGIS, from the Ministry of Lands, Survey, Housing and Urban Planning, as well as over N2.5 billion from anticipated interest and bond proceeds from government investment within the second quarter of 2016.

He insisted that his administration will implement all the existing revenue laws. He added that “N5 billion is expected to be generated through the Environmental Transformation Commission, ENTRACO, and other revenue consultants set up by government.”

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