Shell Energy Entrepreneurs banner Yudala banner
Akwa Ibom broke despite collecting N135.84 billion Federal Allocation (highest by a state) in 6 months

By News Express on 16/09/2014

Share on facebook Yahoo mail icon Gmail icon

Views: 2,323


Akwa Ibom State Government has said it may not be able to pay contractors for new projects because the projected revenue of over N400 billion expected by the state has not been realised.

The state Commissioner for Information and Communications, Mr. Aniekan Umanah, made the observation in reaction to the Federal Account Allocation Committee (FAAC) mid-year publication which showed that the state earned the highest revenue of N135.84 billion between January and June this year while Osun earned the least with N19.61 billion.

While debunking the claim that the state was the highest revenue earner in the country, Umanah said no state in the country earned up to one per cent of the revenue of the country.

His words: “When you are talking about allocation of N135.84 billion, it sounds big to you, but it is not a lot of money when you are doing key projects. When you look at projects like the new international stadium, these are not bread and butter projects. These are quality projects that cost money.

“You don’t build flyovers with N1 or N2. You don’t build underground tunnels with N2; you don’t dualize federal roads with N2; you build them with billions, so you put these monies into big projects. So, the states you are mentioning, are they able to do these types of projects?”

According to the information commissioner, the much touted N135.84 billion was a ‘drop in the ocean’ when juxtaposed with the over N400 billion 2014 budget estimates of the state government which provided for 80 per cent capital expenditure and 20 per cent recurrent expenditure.

“If God allows you to have something from your God-given resources, you also need to apply these resources to key infrastructure that would help turn your state around in terms of the right infrastructure, and I think Akwa Ibom has been prudent.

“If you look at that money you are talking about, if you take 80 per cent of it, you will be talking about N80 billion and then you may be talking about N20 billion for recurrent. What will that amount to? If you juxtapose that with the budget of the state you can see that we are running a deficit.

“If that is what we have as half year report, and we have over N400 billion as budget estimates for 2014, you can see clearly that we are running a deficit and we may not have money to pay for projects,” he said.

•Text courtesy of Daily Sun.

Source News Express

Posted 16/09/2014 10:47:23 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
CNPP welcomes back Buhari, calls for better governance...

Kaduna declaration: What has changed?

Military swoops on ex-Niger Delta militants, arrests 6...

Marine policemen allegedly kill boat operator for refusing...

Buhari assures ‘appropriate response’ on the report of...

South African parliament to debate motion for President...

Ghana, Ivory Coast to clash in 2015 AFCON...

Anambra JUSUN suspends strike

Nurses to Buhari: Honour our colleagues killed in...

Nigeria squanders N105.8B in 7 days (PLUS: Those...

Buhari orders immediate assistance to victims as flood...

U.S. returnee slumps and dies in wife’s presence...

 

Latest News Communities raise alarm over cracks in dam The world has gone in reverse: Guterres Osinbajo speaks on Africa’s economic transformation Man seeks divorce to save his manhood News EFCC arraigns Abdullahi Adamu’s son over money laundering Breaking: PDP senators reverse colleague’s defection to APC U.S. sexual assault hotlines flooded with calls Dangote blames unemployment for violent killings in Nigeria Benue Leaders should stay at home and be visited by Presidency – Shehu Sani Breaking: EFCC Arraigns Justice Yinusa Over Corruption Allegations Senate Gives IGP 14 Days To Arrest Perpetrators Of Benue Attacks FCTA demolishes Patience Jonathan’s property

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (314,456 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (303,578 views) Shameless Genevieve Nnaji exposes breasts in public (243,774 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (200,900 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (189,640 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (178,894 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (155,180 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (139,076 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (135,821 views) Lagos plane crash: Journalist releases victims’ names (124,117 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (121,256 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (118,687 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,849) Business Verdict (32) Columnists (790) Complaints & Requests (94) Enterprise & Opportunities (200) Entertainment (431) Features (541) Global Business Monitor (222) International (1,741) Interviews (139) Live Commentary (28) Love Matters (100) News (31,942) Opinion (864) Pidgin (10) Politics (4,351) Religion (666) Sports (1,405) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Thierry Henry in Lagos Nigeria

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!