Uyo – The Akwa Ibom House of Assemblyhas passed the 2018 appropriation bill of N646.65 billion into law.
The budget is made up of N94.65 billion for recurrent expenditure, N431. 14 billion for capital expenditure and N120.86 billion as consolidated revenue charges.
The latest budget surpasses the 2017 appropriation which stood at N371. 29 billion.
The budget passed into law by the state legislature has been decreased in size by 0.74 percent as against N651.50 billion presented by Gov. Udom Emmanuel on November 24, 2017.
In his presentation at Tuesday plenary, Mr. Usoroh Akpanusoh-PDP, Esit Eket/Ibeno state constituency and Chairman House Committee on Finance and Appropriation urged the executive to implement the budget as passed.
The appropriation committee chairman in his report appealed to government to ensure that the amount appropriated were promptly release to MDAs, stressing that government should ensure judicious use of the funds as budgeted.
The Speaker, Mr. Onofiok Luke, commended the House committee on finance and appropriation for their painstaking job to ensure prompt passage of the appropriation estimate into law.
He applauded the state government for prudent management of resources to the development of infrastructure in the state.
He said that the House in carrying out their responsibilities as parliament strived to ensure that their actions were in line with the position of the stakeholders at the public hearing as contained in the reports submitted during the public hearing.
The post A/Ibom Assembly Passes N646. 65bn 2018 Appropriation Bill To Law appeared first on Independent Newspapers Nigeria.
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Author: Idongesit Ashameri