By Asuquo Edem
A total budgetary estimate of N955B for 2025 fiscal year has been proposed by the State Governor, Pastor Umo Eno. The governor who presented the budget today at the House of assembly stated that the budget was made of N300B for Recurrent Expenditure while N655B was for Capital Expenditures adding that the budget was predicated on an oil benchmark of 75 dollars per barrel at a production rate of 2.1 million barrels per day with an estimated exchange rate of N1400 er dollar.
He assured the Lawmakers that his administration in 2025 would continue to channel funds towards food security, rural development through investment in electrification, primary healthcare services, schools, markets while also revealing that completion of Ukanafun General Hospital would be a priority.
Pastor Eno hinted that the 2025 Budget is anchored on the policy thrust of the ARISE Agenda which will continue to improve the living conditions of the people, while focusing on the maintenance and consolidation of world-class infrastructure including the International Conference Centre adding that his administration will continue to partner with foreign investors to boost the economy of the state, promote accountability and maintain a formidable security management in the state.
The governor expressed his commitment to recover and reactivate ten moribund Akwa Ibom Government assets in Lagos and Abuja through which revenue would be invested in the construction of a four star Hotel in Abuja to serve as a source of income to the state.
He appealed for support from the House of Assembly and relevant stakeholders to enable him to achieve his plans for the state, pledging his administration total commitment to effective implementation of the 2025 in the interest of the government and the people.
In his address, the Speaker of the House, Rt. Hon. (Elder) Udeme Otong, lauded Governor Eno for his commitment to the transformation of the state, especially, in the areas of rural and infrastructural development, as well as other key sectors of the economy.
The Assembly helmsman particularly appreciated the State Chief Executive for the robust working relationship between the Executive and Legislative arms of government, promising that the 8th Assembly will support the ARISE Agenda of the current administration to success.
"Today's budget presentation by the Governor therefore marks a milestone in many ways. It is proof that for us as state, it is forward ever and backward never. And given the outstanding performance the governor has displayed so far, we know this presentation will be a Report Card on the implementation of the A.R.I.S.E AGENDA of the Golden Era, chronicling the continuation of ongoing renewal and transformation of our dear State; focusing on rural development and other key sectors of the economy.
"Your Excellency, you are indeed a friend of the Legislature, and you have proven that in very exceptional ways. My colleagues and I have never ceased to be amazed and appreciative over your Maiden Assessment visit to the House of Assembly - the very first non-budget-presentation visit to the Legislative Arm by any Governor of the state in recent time. We wish to put it on record that following from that visit, the Assembly has been blessed with a 750KVA transformer, ongoing overhauling of panel room; new office equipment and furniture, just to highlight a few; and about a week ago, Sir, you approved the implementation of the Consolidated Legislative Salary Structure (CONLES) for Staff of Akwa Ibom State House of Assembly and Akwa Ibom State House of Assembly Service Commission with effect from 1st January, 2024", he said.
Speaker Otong, stressed that the House will scrutinize the 2025 budget to ensure it aligns with the government's full vision for the state and sued for the cooperation of all government Ministries, Departments and Agencies (MDAs) for successful defense of the appropriation bill.
Meanwhile, the 2025 Appropriation Bill has been read the second time and committed to the House Committee on Appropriation and Finance for further legislative action.
Meanwhile, the House has been adjourned to reconvene on Thursday, 28th November 2024
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