Akwa Ibom State House of Assembly Committee On Appropriation and Finance Commences 1st and 2nd Quarters of 2020 Fiscal Year
Rt. Hon. Odudoh made this known in Uyo today Wednesday, July 1, 2020 Akwa Ibom State House of Assembly Committee on Appropriations and Finance’s commencement of budget appraisal of Ministries, Department and Agencies for the 1st and 2nd quarters of 2020 fiscal year.
While appealing to the State Commissioner of Finance, Mr. Linus Nkan, to ensure prompt payment to contractors, Rt. Hon. Odudoh said Akwa Ibom State House of Assembly will continue to cooperate with the Executive to pass people-oriented Bills that will stimulate development and revenue for the state.
Mr. Linus Nkan, Akwa Ibom State Commissioner For Finance’s Responds To Appropriation and Finance position
Reviewing the State Revenue, Mr. Nkan said “Out of N74,251,400,000.00 Revenue earmarked for the Ministry of Finance in 2020, N708,500,546,78 had been generated as at June, 2020.
On the 2020 Capital Expenditure between the months of January and June, he said “the 2020 Aproved Revised Provision for the Ministry was N6,236,880,000.00 for 11 number of activities. Of this amount, N5,000,000,000 alone was for Inter-Ministerial Direct Labour Projects.”
Speaking further, he said “as at June 2020, a total of N764,900,000.00 representing 12,3% of the Revised Provision was accessed and utilized for eight number of activities. Of the released amount, N720million alone was accessed for Inter-Ministerial Direct Labour Projects leaving only N44.9million for core Ministry of Finance programmes.”