Gov Otti Clears Air On N1.5billion For Two Hilux Vehicles In Abia Budget
Gov Alex Otti
Gov Alex Otti of Abia State has reacted to reports of the proposed procurement of 2 Hilux vehicles at the cost of N1.5 billion in the state’s annual budget.
Otti, who made the clarification while reacting to a question on the report that the Abia State government had voted N1.5 billion to purchase two units of Hilux vehicles in her 2024 budget, attributed the controversial figure to a software glitch generated by the Excel package used in preparing the budget document.
He said; “When I saw that report, I knew something was wrong. I knew it could either be the units or the price. So, I called the Commissioner for Budget and Planning and asked him to check it out and call me back. He did and reported that it was neither the units nor the price that was wrong but the excel. If you use excel and the formula is not very right on a particular line, you are bound to have a problem like that. It’s a mistake that has been corrected.
“When the news of the bloated figure got to me, I immediately had to cross-check the budget numbers and found that the N1.5 billion was not translated to the total budget figure.
“In statistics and even in accounting, there is what is referred to as the materiality concept, and that talks to the significance of a number to influence the outcome. So if you check N1.5 billion against N487 billion budget, that translates to about 0.3%, less than half percent of the total figure, and I believe that it is not that significant in determining the outcome. So even if the wrong number was carried down to the total, it wouldn’t have been material.
“But suffice it to say that anything that comes from government must be correct. It is an error, and it has been corrected.
“I must thank the people who pointed out the error. It means that people are vigilant; people are checking and I encourage people to check, and hold the government to account.
“I believe that our people should remain awake and be vigilant and hold governments to account because the governments are governments of the people, for the people, and by the people and that is the definition of democracy.
“But having said that, that you have produced a budget does not mean that everything in the budget must be spent. I tell my people that out of the two parts of the budget, the one part of the budget that is sacrosanct is the revenue but the expenditure part of the budget must not necessarily be exhausted. And for my government, the fact that you have something in the budget does not mean it must be spent. You will still come back to me for approval.
“I don’t think there’s anything to worry about. The overall numbers are correct and the figure of N1.5 billion was actually N150 million; two units of Hilux vans at N75 million each will give you N150 million, that’s the correct number,” Otti said.
Full Story: https://www.tori.ng/news/261046/gov-otti-clears-air-on-n15billion-for-two-hilux-ve.html
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