Budget NG

Akwa Ibom signs N646.65bn 2018 appropriation bill into law


February 21, 2018 | 11:04 pm
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Governor Udom Emmanuel of Akwa Ibom State has signed the 2018 appropriation bill of N646.65 billion into law.
The governor had earlier presented an estimate of N651 billion to the Akwa Ibom State House of Assembly last year.
He commended the House speaker, Onofiok Luke, and members of the state assembly for painstakingly going round the projects sites to ensure due process was followed before passing it into law.
Highlights of the Act show that recurrent expenditure was reduced from N94.65 billion to N92.657 billion earlier proposed, while the capital expenditure was however reduced from N437.674 billion to N431.14 billion with consolidated revenue was kept at N120.86 billion as proposed.
Udom noted that his administration would continue to seek the cooperation of the federal government in the release of funds due the state to enable the full implementation of the Act.
He expressed appreciation to the head of various Ministries, Departments and Agencies for the cooperation they
accorded the House of Assembly Appropriation Committee, which contributed to the timely passage of the bill.
Meanwhile, the commissioner for finance, Linus Nkan, who interacted with newsmen shortly after the budget signing ceremony, said government was comfortable with the oversight role played by the House to ensure the synergy between the Executive and Legislature.
He disclosed that the slight adjustments made by the House to the estimate earlier presented by the governor were agreed by respective MDAs before the passage, expressing optimism about full implementation of the budget as signed into law.


February 21, 2018 | 11:04 pm
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