Emeka Samuel, Uyo
Over N369 Billion is to be spent by Akwa Ibom state government on the execution of Capital projects in the 2020 fiscal year,Finance Commissioner, Mr Linus Nkang has said.
Similarly, N111 Billion would be expended on Recurrent items in the 2020 budget signed into law in Wednesday by Governor Udom Emmanuel.
Nkang who disclosed this yesterday while fielding questions from newsmen in Uyo explained that the state government has also returned to the normal budget implementation per fiscal year starting from January 1st to December 31st, 2020.
The commissioner further affirmed the readiness of the Udom Emmanuel-led administration to be focused, transparent and committed to the industrialization of the state adding thst the size of the 2020 Budget estimate is less than that of 2019, because government decided to be more realistic considering the availability of funds.
“After due consultations and considerations, a total of Sixty Five Million Naira (N65,000,000.00) was reduced from the budget, leaving us with Five Hundred and Ninety-Seven Billion, Seven Hundred and Thirty-Five Million Naira (597,735,000,000.00) being the 2020 Budget estimate that the Governor signed into law today.
“Government plans to pay attention to infrastructural development as it is focused on Industrialization which will really help in running the economy at a smooth level.” He added.
Nkan also extended his appreciation to the Akwa Ibom people for their support to Udom Emmanuel and the PDP,
He expressed optimism that government business would now be conducted with increased speed now that the litigations in court were over.
