Governor Udom Emmanuel of Akwa Ibom State, earlier today proposes the total budget estimate size of N597.800 billion naira for 2020 fiscal year.
The Governor presented the budget at the hollowed chambers of Akwa Ibom State House of Assembly.
For year 2020 the budget estimate is encapsulated to reflect N111. 225 billion for recurrent expenditure, N369. 642 billion for capital expenditure and N116.933billion for consolidated revenue fund charges.
On his retinue during this years budget presentation were: Deputy Governor of Akwa Ibom State, Mr. Moses Ekpo, Commissioner for Finance, Mr. Linus Nkan, other commissioners, past and present leaders of the State, State and National former legislators, Local Government Chairmen among others.
Year 2020 budget is christened: Budget of Industrialization and poverty alleviation phase 11.
However, year 2020 budget’s policy thrust seeks to usher in a clear departure of transforming Akwa Ibom State from a civil service State to private sector driven economy.
Today’s budget presentation changed the narrative from other years budget presentation, as Governor Emmanuel opened a new chapter in the annals of Akwa Ibom State governance to have presented State’s budgetary estimate as early as in the month of October.
It is also on the record that the President of the Federal republic of Nigeria, Muhammadu Buhari has also presented year 2020 budget today on the floor of National Assembly, another cardinal point scored by the presidency in this regards.