Okon Bassey in Uyo
Governor Udom Emmanuel of Akwa Ibom State wednesday signed into law the sum of N646.6 billion as the state appropriation bill for the 2018 financial year passed by the state House of Assembly last week.
The figure is against the N651 billion which the governor had earlier proposed to the state assembly for consideration and approval.
A breakdown of the budget shows that N431.1 billion is for capital expenditure while N94.6 billion is for recurrent expenditure. Consolidated fund charges stands at N120.8 billion.
At a brief ceremony, the governor lauded members of the House of Assembly and the Committee on Finance and Appropriation for the robust deliberations which resulted in the speedy passage of the budget.
â€œLet me once again thank the speaker, members of the State House of Assembly and most especially the Chairman Assembly Committee on Finance and Appropriation for a job well done.
He assured them that his administration would ensure full implementation of the budget in line with the expectations of the assembly and people of the state..
â€œI also thank all the MDAs that have contributed towards this budget and also pledge on behalf of the exco that we are determined to implement this budget and also look forward to the cooperation of the federal government to enable this budget to be fully implemented,â€ he stated.
The Chairman of the Assembly Committee on Finance and Appropriation, Hon. Usoro Akpanusoh, had earlier said the committee took into consideration the needs of the people and effected necessary adjustment to arrive at the 0.7 differentials.
The state Commissioner for Finance, Mr. Linus Nkan, in his response, said the consideration of the budget had shown the existing synergy between the executive and the legislature as the two arms of government sort eachotherâ€™s contributions for the passage of the bill.