AKWA IBOM SUPPLEMENTARY BUDGET: STATE EXECUTIVE COUNCIL APPROVES N136.5B FOR ASSEMBLY CONSIDERATION
Written by Samson Ojeniran on September 13, 2021
The Akwa Ibom State government has approved a supplementary budget of N136.5b to be sent to the state assembly for approval.
The state Commissioner for Information and strategy, Ini Ememobong made this known at the end of the state executive council meeting in Uyo, the Akwa Ibom state capital.
It was one of the shortest state executive council meetings and the only agenda was consideration of a supplementary budget meant to handle some issues as stated by the Commissioner for Information and Strategy, Ini Ememobong.
He said the supplementary estimates presented by Commissioner of Finance, Mr. Linus Nkan, to the State Executive Council was based on inflation, exchange rate, and other financial accidentals.
He also noted that recent natural disasters, which were not captured in the budget but require urgent government intervention necessitated the Supplementary Budget.
Ememobong, while giving the breakdown of the total estimates. said N97.2b is for capital expenditure while #39.7b is for recurrent expenditure.
The estimates are to be forwarded to the state House of Assembly for consideration and approval.