Abia moves to slash 2020 budget as oil price plummets

*Asks workers to brace up for tough times

From Steve Oko, Umuahia

Gov. Okezie Ikpeazu of Abia State has hinted that the state would scale down her 2020 budget as the crude oil price has continued to plummet following the adverse effect of the covid -19 pandemic.

This is amid fears that Nigeria may have zero allocation in June as her oil was said not to have been sold for some days now.

The governor who gave the hint while briefing newsmen Friday in Umuahia on the latest development on covid -19, regretted that the global pandemic had hardly hit the oil sector, and urged workers to brace up for the worst.

He noted that states might no longer be able to meet up with their financial obligations if the allocations accruing from the centre dropped.

” If the truth is that we sent oil abroad but haven’t sold one barrel in the recent times, it meant that difficult times lie ahead.

“We need to be realistic. The oil price has plummeted, so we need to review our 2020 butget. And I can assure you that in the next 48 hours, the reviewed version would be out “.

He however said that despite the gloomy economic future, the state had continued to pay workers.

According to him, Abia workers and pensioners had received their April pay, assuring that those who are yet to be paid will soon get their alert .

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