By Emeka Samuel
Akwa Ibom House of Assembly has approved a budget outlay of N672.98 Billion for the 2019 fiscal year.
The budget outlay is N2.26 Billion higher than the appriopration bill of N670.72 billion earlier presented to the Assembly by Governor Udom Emmanuel last year.
The revised budget is also N26.33 billion higher than the 2018 budget outlay of N646.65 billion.
It is made up of N97.40 billion for recurrent expenditure, N447.90 billion for capital expenditure and N127.68 billion as consolidated revenue charges.
This is against the N97.09 billion, N445.94 billion and N127.69 billion for recurrent charges, capital expenditure and consolidated revenue charges respectively presented by Governor Emmanuel last year.
Speaker Oniofok Luke pointed out that the increase was necessitated by the need to expand capacities and take care of some needs especially in education and judiciary not adequately captured in the Governor’s appriopration bill.
Luke commended the committee for their dedication in ensuring that the budget is passed within a short time and expressed beleif that improved efficiency would be deployed in the consideration of subsequent ones
The Speaker lauded the state government for its committment to transparency and open budgeting provisions however advised that its provisions should be adhered to by the executive.
He also commended the governor for ensuring independence of the house and urged him to ensure that the confidence the people reposed in him by his re-electing him is repaid through execution of people oriented projects and policies.
