2020 budget

By Chioma Onuegbu – Uyo

Governor Udom Emmanuel of Akwa Ibom state has signed the 2020 Appropriation bill of N597.735billion into Law.

The state House of Assembly had on December 5, 2019, passed the N597.735billion budget estimate for the 2020 fiscal year as against the proposed N597.800 billion budget presented to them by the state Governor on October 8, 2019.

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This is made up of N111.250 billion for recurrent expenditure, N369.577 billion for Capital expenditure and N116. 934 billion for Consolidated Revenue Fund Charges.

Speaker of Akwa Ibom state House of Assembly, Mr. Aniekan Bassey was present during the brief ceremony held at the Government House Uyo.

Also present were all members of the State Executive Council including the Commissioner of Finance Mr. Linus Nkan, state Attorney General and Commissioner for Justice, Mr. Uwemedimo Nwoko.

The 2020 budget is christened ‘The Budget of Industrialisation for Poverty Alleviation phase 2’, and according to the governor was designed as a key milestone in actualizing his completion agenda.

VANGUARD

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