The Akwa Ibom House of Assembly has announced the passage of the state’s 2022 appropriation bill valued at N586.88 billion
The budget, tagged “Budget of Re-defining Standards” was passed on Friday by the House, as the Chairman House Committee on Finance and Appropriation, Mr Uduak Odudoh, said the committee adopted a participatory approach in the budgetary process.
The Budget includes a recurrent expenditure of N261.96 billion and N324.91 billion capital expenditure.
What the State House of Assembly is saying
Chairman, House Committee on Finance and Appropriation, Mr Uduak Odudoh revealed that all MDA’s and NGO’s were invited to a public hearing on the budget.
“The house approved N1.81 billion increase in the recurrent expenditure and N2.95 billion increase in the capital expenditure, bringing the total increase to N4.77 billion,” he added.
He also added that the state house of assembly recommends that the state government ensure prompt and commensurate release of funds to MDAs for the execution of projects and programmes, highlighting that most MDAs had complained of zero releases in the 2021 fiscal year.
House Speaker, Mr Aniekan Bassey said the 7th Assembly would continue to have a robust and impactful relationship with other arms of government to foster development and growth in the state and ordered the Clerk of the House, Mrs Mandu Umoren, to send a clean copy of the bill to the governor for assent.
In case you missed it
Recall Nairametrics reported in October that The Akwa Ibom State Governor, Udom Emmanuel presented a N582.115 billion budget proposal for the 2022 Financial year.
Last week, the Lagos State Governor, Babajide Sanwo-Olu, presented a 2022 budget of N1.388 trillion to the state house of assembly, earmarking huge capital expenditure in the fiscal year to service key growth areas in order to consolidate the recovery of the State’s economy and positively transform residents’ livelihoods.