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Akwa Ibom Assembly approves N587 billion budget for 2022

Akwa Ibom Assembly approves N587 billion budget for 2022

Akwa Ibom Assembly approves N587 billion budget for 2022

The Akwa Ibom House of Assembly on Friday passed the state’s 2022 Appropriation Bill of N586.88 billion.

The passed budget, which is made up of N261.96 billion recurrent expenditure and N324.91 billion capital expenditure, has an increase of N4.77 billion on the initial budget size.

Governor Udom Emmanuel had on October 25 presented before the House a total budget of N582.12 billion for the 2022 fiscal year.

The budget is christened Budget of Re-defining Standards.

The Chairman, House Committee on Finance and Appropriation, Uduak Odudoh, said the committee adopted a “participatory approach” in the budgetary process.

Mr Odudoh said Ministries, Departments and Agencies (MDAs), Non-Governmental Organisations (NGOs) and other relevant publics were invited to a public hearing on the budget.

He said the House approved N1.81 billion increase in the recurrent expenditure and N2.95 billion increase in the capital expenditure, bringing the total increase to N4.77 billion.

He said the House recommended prompt and commensurate release of funds to MDAs for execution of projects and programmes.

The committee chairman said most MDAs had complained of zero releases in the 2021 fiscal year.

The Speaker of the Assembly, Aniekan Bassey, in his remarks, commended the committee for the quick deliberations on the budget.

Mr Bassey said the 7th Assembly would continue to have a robust and impactful relationship with other arms of government to foster development and growth in the state.

He commended the MDAs that appeared before the committee during budget defence, adding that the overall objective was to give priority to areas of immediate importance to the Akwa Ibom people.

The speaker said that by the passage, the commencement date for the budget implementation would be January1, 2022.

He directed the Clerk of the House, Mandu Umoren, to send a clean copy of the bill to the governor for assent.

The post Akwa Ibom Assembly approves N587 billion budget for 2022 appeared first on NEWS.

Aminat Aigbe

Aminat Aigbe is the first lady of afronaija and a very good blogger ( Original Mrs AfroNaija )

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