Thursday, 9 March 2017

A/Ibom Assembly passes 2017 Appropriation Bill of N371.29bn into law

The Akwa Ibom House of Assembly, on Thursday in Uyo, passed the 2017 Appropriation Bill of N371.29 billion into law as against the N423 billion in 2016.
The budget, as passed by the House, is an increase of N6 billion against the N365 billion presented by Gov. Udom Emmanuel on Dec. 22, 2016.
The budget is made up of N88. 42 billion for recurrent expenditure as against N201.997 billion for capital expenditure while N80. 87 billion is set aside as consolidated revenue charges.
In his presentation, Mr Usoroh Akpanusoh (PDP Esit Eket/Ibeno State Constituency) and House Committee Chairman on Finance and Appropriation urged the executive to implement the budget as passed.
Akpanusoh appealed to the government to ensure that the amount appropriated was promptly released to the ministries departments and agencies (MDAs) as well as ensuring judicious use of the funds.
He advised the MDAs to submit the level of budget implementation on release of funds to the House through the various committees on a quarterly basis.
The committee chairman commended the governor for adopting a transparent and detailed accounting system in preparing the budget.
The Speaker, Mr Onofiok Luke, commended the House Committee on Finance and Appropriation for ensuring prompt passage of the appropriation estimate into law.
He applauded the state government for prudent management of resources and for provision of infrastructure in the state.
Luke explained that the N6 billion increase was necessitated by MDAs during their budget defence and the need to enhance rehabilitation of schools as well as improvement on health facilities.
The speaker urged the executive arm to make the budget available to the public after the governor’s assent.
He directed the Clerk of the House, Mrs Mandu Umoren, to forward the appropriation law to the governor for assent.
The News Agency of Nigeria (NAN) reports that the 2017 budget is christened, “Budget of Consolidation”.
NAN also reports that the policy framework for the year is aimed at expanding the economic activities in the state as well as promoting the industrialisation policy of government.
The budget also focused on promotion of trade, commerce and tourism. 



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