Akwa Ibom State House of Assembly has passed Akwa Ibom State 2019 appropriation bill christened; “Budget of Industrialization and Poverty Alleviation” into law.
The total budget outlay for 2019 fiscal year passed by the House stands at N672,984,760,760billion as against the approved provision of N646.649billion of 2018.
The 2019 budget as passed by the House is made up of Recurrent Expenditure: N97,395,624,590billion, while Capital Expenditure stands at N447,902,796,440billion, Consolidated Revenue Fund Charges goes for N127,684,339,730billon.
However, the estimated budgetary outlay for 2019 fiscal year earlier presented by Governor Udom Emmanuel on November 14, 2018
was encapsulated as follows; Recurrent Expenditure: N97.096billion, capital expenditure: N 445.936billion and Consolidated Revenue Fund Charges stood at N127.686.
With the passage of N672,984,760,760billion bill into law, the House has made provision for over N2billion augmentation as against the original budgetary outlay of N670.718billion as presented by the Governor.
However, a total sum of N646.649billion was approved by the House for 2018 fiscal year, made up as follows: Recurrent Expenditure: N94.649billion, Capital Expenditure: N431.141billion and Consolidated Revenue Fund Charges: 120.859 bringing it to a total sum of N646.649billion.
In remarks after passing the bill, the Speaker, Akwa Ibom State House of Assembly, Rt. Hon. (Barr.) Onofiok Luke said that 2019 budget being the last opportunity sixth Assembly will have the privilege to legislate upon, stands as the pioneer economic blueprint for the proposed Completion Agenda of the next 4 years adminstration of Governor Udom Emmanuel.
He elucidated that the slight augmentation of the budget size above N2billion steems from inputs from various stakeholders during public hearing and during budget defence exercise, mostly in the social services sector.
“Let it be emphasised that what we have approved emanates from the wishes of stakeholders who considered the parameters for the 2019 proposals during the public hearing on the budget. These expert inputs inspired need-based augmentations especially in the Social Sector while savings were made as necessary. Our overall objective was to see to it that priority was given to areas of immediate importance to the people while we pursue the larger goal of full-scale industrialisation”. He explained!
Also, the House during her last Plenary has ratified the Auditor General Report on the State Audited Account for the year ended, 31 December, 2017
It is in consonance with the provisions of Section 125 (5) (6) of the 1999 constitution of the Federal Republic of Nigeria as amended, that the Akwa Ibom State Auditor General had last year submitted to the House the statement of account for the 2017 fiscal year. The House however, proceeded to ratify the report through the Public Accounts Committee, chaired by Rt. Hon. (Elder) Friday Iwok.
Also, the Speaker in his remarks said various Constituents have expressed satisfaction with the present health facilities of the State and put a legislative seal on Audited Account of the State for year 2017 even as the House is looking forward to auditing the State account for 2018 before the expiration of the Assembly in June, 2019.