March 04, (THEWILL) –Â The Akwa Ibom State House of Assembly has received a supplementary budget of N45 billion, with N41 billion for Recurrent Expenditure and N4 billion for Capital Expenditure .
The House received the budget via a letter from the State Governor, Mr Udom Emmanuel, during Thursday’s Plenary.
THEWILL reports that the supplementary budget came barely one week after rumours made the rounds that the state Governor, Mr Udom Emmanuel, had secretly sought an approval of the House, to secure a loan to the tune of N150 billion.
Receiving the executive bill titled “A Law to make Supplementary Provision for the Service of Akwa Ibom State Government for the year ending on 31st December, 2022,” the House Leader, Sir Udo Kierian Akpan (Oruk Anam), said “The State Accountant General may, when authorised so to do by warrants issued by the Governor of Akwa Ibom State in addition to the sums provided for in Section 1 of the Appropriation Law, 2022, pay of warrants not exceeding N41 billion from the Consolidated Revenue Fund and N4 billion from the Capital Development Fund.”
Speaking further, the House Leader said, “The Bill seeks to make an increase in the budget size of the state that was passed last year from N586 billion to N631 billion, an increase of N45 billion from when it was approved last year.”
Akpan explained that, “The Bill also seeks to complete some projects in the state and it is the determination of the State Governor to see that these projects are commissioned within his administration.”
He also noted that IPCs and contractors are in need of these funds in order to complete most projects like the Airport Projects, Dualised Roads in Etinan and Oruk Anam Local Government Areas and other incomplete projects in the state.
The Assemblyman, however, appealed to his colleagues to give the Bill the attention it deserves for the budget to be passed speedily.
In their various submissions, the honourable members expressed optimism that the Supplementary Appropriation was in the interest of the state, maintaining that, “the projects are very critical to the good of the State.”
The bill was read the second time and referred to the House Committee on Appropriation and Finance, to report back to the House within 24 hours.
The Committee is expected to interface with relevant Ministries, Departments and Agencies for further contributions on the Bill and legislative procedure before passage.
Meanwhile, the house adjourned its plenary to Monday, March 7, 2022 by 10:00am prompt.
