The General Manager of Abia State Oil Producing Areas Development Commission, (ASOPADEC) Dr. Joshua Onyeike has restated the resolve of the Commission to put in place policies that will foster development to the oil producing communities and beyond.
Dr. Onyeike who stated this while defending the budget estimate of the Commission disclosed that a total sum of Five Billion Six Hundred and fifty Six Million, One Hundred and fifty six Thousand Three Hundred and Nine Naira (N5,656,156,309.00) has been estimated for the operations of the Commission in the year 2025 and explained that out of the estimate, Four Billion Six hundred and fifty Three Million, Nine hundred and Ninety Thousand (N4,653,990,000,00) is for capital expenditure while a total of One Billion, Two Million, One Hundred and Sixty Six Thousand, Three Hundred Nine Naira (N1,002,166,309) is for recurrent expenditure.
The ASOPADEC General Manager said that the Commission as an interventionist agency is committed to keying into the administrative policy of the State government led by Dr. Alex Otti, OFR in realising the visions of the new Abia by ensuring that funds due to the Commission are properly utilized for the development of the oil producing Areas adding that the Commission is established to tackle the peculiarities of challenges emanating from the oil exploration activities such as environmental degradation, infrastructural dilapidation and the need to enhance human capital development.
In a review of the 2024 fiscal year budget of the Commission, the General Manager said that the Commission is striving to live up to her mandate in the provision of water boreholes, scholarship scheme, reconstruction of roads, market stalls, civil centres and other tangible and intangible developmental initiatives but however pointed out that the 30% of 13 % oil derivation fund is not enough to face the multiple demands of developmental projects from the oil producing areas while noting that the high cost of things in the market since the removal of oil subsidy was a big challenge in discharging her duties in the year 2024.
The General Manager commended the Governor for his support to the Commission and requested the 2025 Budget Estimate Committee tagged “Budget of Sustained Momentum” to approve his proposed budget.
Responding, the Chairman of the 2025 Budget Estimate Committee,Hon. Kingsley Anosike represented by the Permanent Secretary, Budget and Planning Commission Mrs Jimonu Ugonma Mercy applauded the General Manager of ASOPADEC for his proposal which is in tandem with the guidelines and assured that appropriate approval will be made within the limits of available resources.
Iyke Onuegbu and Chinwe Anunobi
Information Officers, ASOPADEC.
 Dr. Joshua Onyeike has res…){kind=link}