A'Ibom Budget Rises To N850B As AKHA Passes N150B Supplementary Budget for 2023

By Asuquo Edem

Akwa Ibom State 2023 Revised budget now stands at N850B as the Akwa Ibom State House of Assembly today during Plenary passed a supplementary estimate amounting to N150B.

In a report presented to the House by the House Committee Chairman on Finance and Appropriation, Hon. Itorobong Etim, informed the Speaker and Members that the committee met with Heads of Government Ministries Departments and Agencies Including the Commissioner for Finance and Accountant General to obtain their views on government priority projects and programs, revenue, debt profile and sources of funding as it relates to areas of augmentation or savings in the supplementary estimates.

She stated that the supplementary budget would be funded through Derivation Revenue of N80B, Direct Credit Substitute/Discounting Facilities/Internal Loans of N54.536B and an Opening Balance of N15.464B bringing to a total of N150B.

Hon. Etim who represents Uruan State Constituency added that the Supplementary Budget of N150B would be made up of N50,310,140,850B for Recurrent Services while N99,689,859,150B would be for Capital Expenditure.

The House was disolved into the Committee of the Whole with the Speaker, Rt. Hon. Udeme Otong as Chairman where the report among other five reports were considered. The motion to pass the report was moved by the Deputy Leader, Rt. Hon. Otobong Bob and was seconded by the member representing Nsit Ibom State Constituency, Hon. Eric Akpan.

The Speaker called on the Clerk, Mrs Nsikakabasi Orok to communicate decisions of the House to the Executive.

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