GOV. EMMANUEL SIGNS 2018 APPROPRIATION BILL OF 646.6 BILLION NAIRA INTO LAW
Wednesday, February 21st, 2018 | News
Akwa Ibom State Governor, Mr Udom Emmanuel has signed the 2018 Appropriation Bill of 646.6 billion Naira into law.
This is against the 651 billion naira which the governor had earlier proposed to the State House of Assembly.
Governor Emmanuel signed the budget this morning in a brief ceremony at the State Executive Council Chamber, Government House, Uyo.
A breakdown of the budget shows that 431.1 billion naira is for Capital expenditure while 94.6 billion naira is for Recurrent expenditure. Consolidated fund charges stands at 120.8 billion naira.
In his remarks, Governor Udom Emmanuel thanked the House of Assembly and the Committee on Finance and Appropriation for the robust deliberations which resulted in the speedy passage of the budget.
“Let me once again thank the speaker, members of the State House of Assembly and most especially the Chairman House Committee on Finance and Appropriation for a job well done.
He has put in a whole lot…. he went round to make sure he did the right thing and follow the due process.”
He assured that his administration will ensure full implementation of the budget.
“I also thank all the MDAs that have contributed towards this budget and also pledge on behalf of the Exco that we are determined to implement this budget and also look forward to the cooperation of the Federal government to enable this budget to be fully implemented. He stated.”
In their contributions, Chairman of the House Committee on Finance And Appropriation, Hon. Usoro Akpanusoh said that the Committee took into consideration the needs of the people and effected necessary adjustment to arrive at the 0.7 differentials.
The Commissioner for finance, Mr Linus Nkan said that the consideration of the budget had shown the existing synergy between the Executive and the Legislature as the two arms of government sort each other’s contributions for the passage of the bill.
The budget had earlier been passed into law last week by the State House of Assembly.