Akwa Ibom proposes 492bn budget for 2015

Posted by News Express | 21 October 2014 | 3,478 times

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A N492 billion draft budget for 2015 fiscal year has been proposed and forwarded to Akwa Ibom State House of Assembly for consideration and approval.

The amount which was against N498.5 billion for 2014, showed that Capital Expenditure is given N268 billion against N336 billion for last year while Recurrent Expenditure has N94.7 billion against N74.2 billion for last year.

The Commissioner for Finance, Akan Okon, who announced this today to Government House correspondents at the executive chambers of Governor’s Office, Uyo, said members of the state Executive Council presided over by the state Governor, Chief Godswill Akpabio, approved the draft budget.

Okon explained that the State Government is committed to the completion of such flagship projects as Tropicana Entertainment Centre, roads, specialist hospital and four-point Sheraton Hotel, Ikot Ekpene, among others.

The Commissioner for Finance, who attributed the increase in Recurrent Expenditure for next year to the employment of additional 5,000 teachers and more civil servants, lauded the state Governor for his vision in embarking on and completing the key projects, hoping the next administration would sustain the projects.

The Permanent Secretary, Directorate of Budget, Governor’s Office, Uyo, Pastor Nicholas Ekarika, thanked the Governor for not deviating from the 80 per cent for Capital Expenditure and 20 per cent for Recurrent Expenditure for many years now.

Ekarika, therefore called on different ministries, agencies and parastatals in the state to be judicious in the implementation of the budget.

Source: News Express

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