Abia Q3 budget expenditure followed sound fiscal management processes – Otti’s Aide

The Abia Government has said that its 2023 Third Quarter Budget Performance Report is a testament of its commitment to transparency, fiscal discipline and good governance.

Dr Oluebubechukwu Chukwu, the Special Adviser on Due Process to Gov. Alex Otti, said this during an interactive session with newsmen in Umuahia on Tuesday.

Chukwu said that the  budget  performance report was in line with the government’s resolve to rebuild the state through appropriate fiscal management guided by  international best practices.

“The decision to disclose the 2023 Q3 budget expenses aligns with global standard recommendations on public expenditure and financial accountability by institutions such as the International Monetary Fund and the World Bank,” he said.

He also said that the government aimed to enhance its credibility on the international stage and foster stronger partnerships with global organisations, hence the decision to follow the recommendations.

Chukwu said that the present administration was desirous to build and sustain trust and credibility with the citizenry on issues that concern the allocation and utilization of public funds.

“This move reflects a global trend, where governments are increasingly recognising the importance of transparency in building public confidence.

“The comprehensive breakdown of expenditures includes allocations for key sectors, such as healthcare, infrastructure and social welfare.

“Providing this level of detail not only enhances accountability but allows citizens to actively engage in the governance process by understanding how their tax contributions are being utilized for the betterment of the state.

“Moreover, the publication of the Q3 budget expenses serves as a model for other states in Nigeria, setting a precedence for proactive disclosure of financial information,” Chukwu said.

According to him, embracing international best practices remains a crucial tool for attracting foreign investors.

He argued that it further demonstrated government’s commitment to fiscal responsibility.

Chukwu also said that the government, in a bid to ensure accessibility, made the budget performance report accessible to the public through the government’s official website and public libraries.

“This accessibility is essential for fostering a culture of civic participation, as it empowers citizens to actively monitor government’s spending and contribute to the overall development agenda,” Chukwu said.(NAN)