LEGISLATURE

 AKHA  COMMITTEE MEETS STAKEHOLDERS TO JUSTIFY 2024 APPROPRIATION BILL


By Julius Nsikak





The Akwa Ibom State House Committee on Appropriation and Finance recently convened a meeting with key stakeholders to justify the 2024 supplementary Appropriation Bill. 


The gathering took place at the Assembly's conference room, State Assembly Complex in Uyo.


It is worth recalling that the House, during its most recent legislative session on Thursday, 21 November 2024, received a message from the State Governor, Pastor (Dr) Umo Eno, seeking approval for the 2024 Supplementary Appropriation Bill.


 The Executive Bill underwent rapid consideration and was subsequently referred to the House Committee on Appropriation and Finance for further scrutiny prior to passage.


At the committee level, the Chairman, Hon. (Dr) Itoro-Obong Etim, who also represents Uruan State Constituency, expressed her gratitude to Governor Umo Eno for his transformative initiatives aimed at bolstering the economy of Akwa Ibom. 


She reiterated the state legislature's commitment to ensuring the supplementary budget's approval.


Hon. Etim noted that the engagement with stakeholders from concerned ministries was essential to provide justification for the 2024 supplementary budget and address other economic realities.


 In his presentation, the Commissioner for Finance, Hon. (Dr) Linus Nkan, emphasised the reasons for adjustments in the supplementary budget.


Dr Nkan explained that, in implementing the current budget, it became necessary to align with Governor Umo Eno's ARISE vision. 


He stated, "The government has reduced the cost of governance by creating a savings of 8.9 billion from the overhead recurrent expenditure, which will be used to augment the capital provisions in the supplementary budget. This will also facilitate the payment of the new minimum wage."


The Finance Commissioner further explained that the augmentations would accommodate various projects, including minimum wage payments, provisions for model primary schools and health facilities, erosion control, emergency intervention schemes, Aviation village construction, and tourism and cultural programmes. 


He also mentioned the construction of 18-storey towers in Lagos State and provisions for newly created ministries, such as the Akwa Ibom State Bulk Purchase Agency.


According to Dr Nkan, adequate funding is necessary for various sectors of the government to bolster the state's economy.


In brief, he stated that the Bill reflects a reduction of approximately 8.9 billion from the 2024 recurrent expenditure, from the approved 359 billion, while increasing the 2024 capital expenditure to 573.3 billion, as opposed to the approved 447.9 billion. 


This results in a total budget size of 923.4 billion, compared to the initial budget size of 848.9 billion for 2024.


The Commissioner for Economic Development and Planning, Mr Emem Bob, noted that the Bill's approval would boost the state's economic wealth. 


He acknowledged the collaborative efforts between the executive and legislative arms of government in the state, stating, "It is a collective belief that the projections in the budget will positively impact every Akwa Ibom citizen."


The meeting was attended by members of the Appropriation and Finance Committee, including Hon. Sampson Idiong (Deputy Whip), Rt. Hon. Asuquo Nana(Ikono), Hon. Moses Essien (Ibiono Ibom), Hon. Bassey Pius Bassey (Okobo), Hon. Uwemedimo Asuquo (Uyo), Hon. Precious Selong (Urueoffong/Oruko), Dr. Nsidibe Akata (Eket), and the Clerk of the House, Mrs. Nsikak Orok.


Other attendees included Permanent Secretaries, the Committee Clerk, Mrs Unyime Ekpenyong and many others.

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