Imo State Commissioner for Budget, Economic Planning and Statistics, Rt. Hon. Dr. C.C Osuala speaks ahead of 2024 Budget presentation

IMO STATE PUBLIC ENLIGHTENMENT

AHEAD OF THE PRESENTATION OF THE 2024 IMO STATE BUDGET
A discussion with the Imo State Commissioner for Budget, Economic Planning and Statistics, Rt. Hon. Dr. C.C Osuala, PhD, anchored by the Special Adviser on Public Enlightenment, Prince Eze Ugochukwu.

*"World Bank through SFTAS program rated Imo State Excellent in all nine Disbursement Linked Indicators used in measuring all States Budgetary Performance, anchored on Transparency and Economic deliverables, is a credible indicator of Satisfaction"* ~ C.C Osuala.

*Q*: . What are the top priorities for the upcoming 2024 budget?

*Answer*: The top priorities of 2024 are numerous but few illustrations will suffice. The 2024 Budget will deepen the 3-R Agenda of the Administration of Governor Hope Uzodimma. The Budget will elucidate the top priorities of Reconciliation, Rehabilitation and Recovery for the benefit of Imo Citizens. There will be greater emphasis on the general Infrastructure development such as Road Construction and Rehabilitation linking various Communities and Towns across the State, including rural roads network. The Agricultural Sector will benefit with emphasis on Nutritional programs and high yielding varieties seedlings, and access rural roads network to farmers to reduce cost of produce transportation to Market. Educational sector will gain greater emphasis on elementary, secondary and tertiary institutional structural development and Health sector will gain greater emphasis with high technological diagnostic equipments support for early detection of diseases and treatment, Child care improvement and free health care programs for Civil servants and indigent citizens, all these aforementioned Sectors will experience higher level of Socioeconomic re-engineering, that will uplift the Imo Citizens wellbeing to an enviable position, in comparison, to other States in Nigeria. In final analysis, the 2024 Budget can be likened to Victory Budget for Citizens in many relevant avenues of Imo People’s lives.

*Q*:  How will the Budget address the needs of Imo people?

*Answer*:  The 2024 Budget as you must have known by now, that since the commencement of the Administration of Governor Hope Uzodimma in 2020; all the State Budgets have been benchmarked on the Communities Needs Analysis. The Communities Needs Analyses are programmed in a document christened “Charter of Needs”; which is One of the critical documents State Fiscal Transparency, Accountability and Sustainability (SFTAS), a World Bank program requires in the evaluation of Imo State’s budgetary compliance. The Imo State Budgetary compliance is based on the requirements of SFTAS which is probably one of the best in Nigeria. Therefore, it is a given that the 2024 Budget is in compliance with needs of Imo people, the simple reason being that, the People participated actively in drawing up their needs which has been captured in the Community Charter of Demand, which is a foundational document for the 2024 Budget preparation. The 2024 Budget in a nutshell, is the Budget of the People by the People for the People. The Budget serves the democratic needs of the Imo people, as illustrated.

*Q*:  What measures will be taken to ensure fiscal responsibility?

*Answer*:  This is a decent question. Every discerning mind in Imo State knows that Governor Uzodimma has been the most responsible Fiscal Governor Imo State ever had. I can substantiate the above statement with copious evidences: In the first in stance; Governor Uzodimma’s Administration, is the First to engage Imo State in Fiscal Transparency program of World Bank SFTAS. It is under Governor Hope Uzodinma that the First Citizens Budget book which admitted Imo State into World Bank’s Fiscal Responsibility program was authored, published and accepted by World Bank and four editions of Citizens Budget books have been published continuously for Four Years, all emphasizes on Imo State Fiscal Responsibility. No prior Administrations since the creation of Imo State in 1976, can make such verifiable claim. It is Governor Uzodinma’s Administration’s Fiscal Responsibility policy that started earning Millions of Dollars through World Bank Grants (Free Funds) to Imo State Government through World Bank SFTAS program; cynics are at liberty to approach World Bank for Verification, if need be. The essence of the aforementioned empirical evidences are to emphasize authoritatively that Imo State is already practicing Fiscal Responsibility compliance since the inception of Governor Uzodimma’s 3-R administration. In addition, it may interest you to know that Institute of Chartered Accountants of Nigeria (ICAN) gave Governor Hope Uzodimma Award as the most prudent Fiscal Responsible Governor of the Year 2023 in Nigeria. 

*Q*:  How will the Budget impact economic growth and development?

*Answer*:  The 2024 Budget is all about growing Imo State Economy in a responsible, conducive, inclusive and peaceful environment. The 2024 Budget takes into active consideration Youths empowerment in Imo State in such areas as acquiring Digital Skills which help in Entrepreneurial startups in nooks and crannies of Imo State. The 2024 Budget gives great emphasis to Ministries of Agriculture, Education, Health and Works; these are pointers that the second coming of Governor Uzodimma through the people’s mandate landslide victory is a sign post for good things in offing for Imo citizens in areas of economic development of the State. If I may speak for the 3-R Administration, I will inform you that all the programs have geared towards Empowering Imo Citizens economically. Despite the daunting challenges, Imo is getting better.
As you know an Old adage says,”Idol Mind is Devil’s Work Shop”. The budgetary provision for Youth program is an emphasis to strengthen Economic Development in Imo State. All these great economic initiatives will in turn encourage local and foreign investors into Imo State. It is instructive to remember that “Rome was not built in a day”.

*Q*: . What steps will be taken to ensure transparency and accountability in the budget process?

*Answer*: The 2024 Budget process instituted Transparency and Accountability steps in line with World Bank SFTAS Budgetary Quarterly Performance Reports. The implementation of the 2024 Budget each Quarter Budget Performance report is based on transparency and accountability mechanism. The Ministry of Budget, Economic Planning and Statistics Monitoring and Evaluation Unit has cognizance responsibility to collect Data from all Ministries, Departments and Agencies (MDAs) of Imo State Government as to their level of Budget Estimates compliance on Monthly basis. When MDAs Data have been collected and collated: The Ministry of Budget, does the data analysis,  in line with the World Bank Template to evaluate levels of MDAs Budget implementation, by extension State’s compliance and report same to SFTAS program. The World Bank SFTAS Department in conjunction with Open Government Partners (OGP) makes their independent verification assessment on the Quarterly Report submitted by Ministry of Budget, Economic Planning and Statistics. After proper analysis of the Budget Performance Report by SFTAS, quarterly Grants are awarded to Imo State Government based on the Budget Performance for Result. This Transparency and Accountability Reporting instituted by World Bank and religiously followed by Governor Uzodimma’s administration, is another creative and innovative method of Internally Generated Revenue (IGR) for Imo State Government.

*Q*:. What is the plan for managing public debt?

*Answer*: The most efficient and effective plan for managing public debt is avoiding profligacy of scarce Fiscal resources. The watch word is “Prudent”. The 3-R administration’s approach to Public Debt Management is based on appropriation of public funds on the programs that are best for citizens good with components of Return On Investment (ROI). For example: When the 3-R administration build quality Hospitals. In turn, the citizens use the Hospitals when they fell ill. They pay for treatment and services rendered at the Hospitals by Physicians and Nurses. The State recoups her Financial commitment (Investment funds) used, in building quality Hospitals. Some portions of recouped funds will be classified as “Capital Investment Returns” or “Principal” and others as “Profit”. In a nutshell, the above example can be used as strategic plan in reducing and management of debt profile; especially if this School of Thought is applied as a “General Principle” to guide the State Expenditure Portfolio; in all MDAs, which is the hallmark of the 3-R administration in Imo State. Of course, the regular mundane method is, all the previous administrations locust years expenditures are deducted at source through FAAC payments to the State by the Federal Government Debt Management Office. This mundane method equally reduces debt Profile of the State which stifles economic growth of the State.

*Q*:  How will the Budget address issues of poverty and inequality?

*Answer*: The 2024 Budget has made reasonable provisions to address issues of poverty through the Ministries of Humanitarian Affairs, Youths and Sports, Women and Vulnerable Affairs. The Ministry of Humanitarian Affairs is in charge of National Cash Transfer Program to the Poor and Vulnerable Households (PVHHS). The PVHHS is guided by globally acceptable Classification by applying World Bank Template on Citizens qualification for the program. A case in point: When Senator Hope Uzodimma became Governor; the handover notes and information received from State Operation Coordinating Unit Registar depicted that from 2010 to 2019 the number of PVHHs Captured in Imo State was only “10,500 PVHHS” in Imo State; yet from 2020 to 2023 the number of PVHHS Captured is over “155,000 PVHHS” in Imo State. The import of the aforementioned Statistics is glaring: In a layman’s parlance, the more you identify the Poor and Vulnerable Citizens, the more help they can access from World Bank, Federal Government that provides the Funds on Monthly basis through the State’s transparent disbursements to the PVHHS in all the Twenty-Seven Local Government Areas in Imo State. In this case, poverty and inequality is being reduced. The detailed and comprehensive data collection and collation used in rapidly identifying the PVHHS in Imo State under the 3-R leadership is ameliorating Economic Inequality in the State through Transparent Budgeting System, benchmarked on proper and verifiable statistical data.

*Q*. Are you satisfied with the performance and realisation of the 2023 budget?

*Answer*: The fact is, the 2023 Budget Performance in Imo State is rated excellent by local and global Institutions, is heart warming to both Objective Observers and Economic participators. Also, let me add an addendum to that, there is no human endeavor that is Perfect. It is not the case of take my words, the fact that World Bank through SFTAS program rated Imo State Excellent in all nine Disbursement Linked Indicators used in measuring all States Budgetary Performance, anchored on Transparency and Economic deliverables, is a credible indicator of Satisfaction. I have quoted the World Bank Authority as a Gold Standard; in the sense that, World Bank backs her rating with Millions of Dollars in Grants through SFTAS, to States that are performing Satisfactorily economically. This is a strong Economic Indicator. Equally, it does not diminish the real economic challenges being faced by all and sundry globally and Nigeria inclusive. It is on record that the 3-R administration ably led by Governor Uzodimma has earned for Imo State over thirty Million US Dollars through Transparent Fiscal Management of Imo State Fiscal Resources. The ICAN equally gave Imo State a clean bill of Economic health, through their Fiscal Responsibility Award to Governor Uzodimma this year. The Citizens of Imo State on 11th. November 2023; gubernatorial election, spoke through their Landslide victory mandate to Governor Hope Uzodinma. The landslide victory took into consideration the 3-R administration economic performance.
My personal opinion is, there is still ample room for improvement in the economic livelihood of the State, that is part of the reason Imo citizens voted overwhelmingly for Governor Hope Uzodimma to continue the good work he has started. Imo people are satisfied and as an Imo citizen, I am equally satisfied. All the aforementioned Economic Institutional Authorities both Local and Foreign, are satisfied. The best Economic years are still ahead. The Imo Citizens Economic hope in Imo State, is in Hope.

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