LEGISLATURE

 AKWA IBOM STATE 2025 BUDGET: COMMITTEE HOLDS PUBLIC HEARING


By Julius Nsikak 


Speaker Otong flanked by committee chairman, Hon. Itorobong Etim


The Akwa Ibom State House of Assembly Committee on Appropriation and Finance has held a budget briefing and public hearing on the 2025 Akwa Ibom State Appropriation Bill.


The event took place recently at the Old Chapel, Akwa Ibom State House of Assembly, Uyo, and was chaired by Hon. (Dr.) Itorobong Etim who is also  member representing Uruan State Constituency.

A'Ibom Finance Commissioner, Dr Nkan


In her address, Etim noted that the forum aimed to provide an opportunity for the executive arm to present its scorecard to the people and brief them on the progress made so far on Akwa Ibom projects. 


She explained that the committee sought to receive feedback from the public on performance indices and the way forward for the budget process.


Etim stated that the forum aimed to create widespread awareness and mobilise concerted actions on the 2025 budget proposal, adding that the committee sought to gather valuable inputs to enhance the overall socio-economic development of Akwa Ibom State.


"The 2025 budget, tagged "Budget of Consolidation and Expansion," was presented by Governor Pastor Umo Eno, Ph.D. The budget is prepared in accordance with the International Public Sector Accounting Standard (IPSAS) Accrual Template, with a total budgetary outlay of N955 billion.

Hon. Commissioner for Economic Development, Mr Bob


The budget is predicated on an oil benchmark of US$75.00 per barrel at a production rate of 2.12 million barrels per day, with an estimated exchange rate of N1,400/US dollar," she noted.


The Uruan lawmaker, explained that the policy thrust of the 2025 budget is anchored on the ARISE Agenda of the present administration, which covers Agriculture Revolution, Rural Development, Infrastructural Maintenance and Expansion, Security Maintenance, and Educational Advancement.


The Speaker, Rt. Hon. Udeme Otong, remarked that the meeting was pivotal in giving the public and other stakeholders an opportunity to provide input into the proposed Bill (A bill For A Law To Appropriate Monies Out Of The Consolidated Revenue Fund And  Capital Development Fund To The Service Of Akwa Ibom State And For Other Matters Connected There with) before passage into law. 


He thanked the governor for presenting the 2025 budget and assured that the committee would make necessary provisions for the concerned bodies and the state at large.


"I am confident that today's deliberation will take us several miles on the road to strengthening the fulfillment of the ARISE Agenda that is geared towards ensuring greater prosperity for our people," he said.


The Commissioner for Finance, Dr. Linus Nkan, commended the speaker's leadership style and strides in promoting peace and development in the state. 


He provided a brief analysis of the 2024 budget, tagged "Arise for Growth and Expansion," with a total of N923.4 billion, explaining that the 2025 budget seeks to consolidate the gains of previous and current administrations for expansion and growth of the state. 

The Commissioner, Ministry of Economic Development, Mr. Emem Bob also made his presentation.


The meeting was attended by members of the state legislature, other stakeholders, including the Akwa Ibom State Council of the Nigeria Labour Congress, NLC, civil society groups, Policy Alert, Nigerian Bar Association (NBA), Centre for Human Rights and Accountability Network (CHRAN), among others, who submitted inputs during the public hearing.

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