Akwa Ibom Assembly Passes ₦142.7 Billion Supplementary Budget Into Law
THE Akwa Ibom State House of Assembly has passed a ₦142.72 billion supplementary budget into law to augment the state’s original 2021 budget. The newly approved budget comprises ₦39.30 billion in recurrent expenditure and ₦103.42 billion for capital projects.
The passage followed the presentation of the report by the House Committee on Appropriations and Finance, led by its Chairman and representative of Ikot Abasi Constituency, Hon. Uduak Odudoh, during Tuesday’s plenary session.
The supplementary budget was initially presented to the House by the Executive on September 14, 2021, with a request for expedited consideration to support ongoing programmes and projects under the 2021 budget, originally set at ₦456.3 billion.
According to Hon. Odudoh, deliberations with key government officials, including the Commissioner for Finance, Dr. Linus Nkan, and the Commissioner for Economic Development and Ibom Deep Seaport, Mr. Akan Okon, revealed that the supplementary budget was necessary to address the impact of inflation and exchange rate fluctuations on critical projects.
He explained that the adjustments aim to ensure the timely and effective execution of the government’s key priorities, especially those under Governor Udom Emmanuel’s Completion Agenda.
After the committee’s report was considered during the Committee of Supply session, the bill was read a third time and passed into law.
In his closing remarks, Speaker of the House, Rt. Hon. Aniekan Bassey, instructed the Clerk, Mrs. Mandu Umoren, to formally communicate the decision of the Assembly to the executive arm of government.
The House subsequently adjourned plenary to Thursday, September 23, 2021.
THE Akwa Ibom State House of Assembly has passed into Law the state’s Supplementary Budget of N142.72billion into Law.
The supplementary budget is made up of N39.30billion recurrent expenditure and N103.42billion capital expenditure.
This followed the presentation of the report of the House Committee on Appropriations and Finance by its Chairman, and member representing Ikot Abasi State Constituency, Uduak Odudoh to the House during the Tuesday plenary.
Recall that on Tuesday, September 14, 2021, the House had received the Supplementary Budget from the Executive, urging it to augment the initial 2021 Budget of N456.3bn for her to continue to carry out its programmes.
The executive demand for speedy consideration and passage of the bill informed the accelerated hearing it was given after it was received by the House.
Presenting his Committee’s report, Odudoh noted that they were made to understand during deliberations that the Supplementary Budget was borne out of the need to realign priorities in line with the Completion Agenda of Governor Udom Emmanuel administration.
“The Supplementary Budget as explained by Hon. Commissioner for Finance Dr. Linus Nkang and Hon. Commissioner for Economic Development, and Ibom Deep Seaport, Mr Akan Okon were basically meant to cater for effects of inflation, escalating foreign exchange rates on priority and key programmes and projects of the government to make for effective and on-schedule delivery,” he noted
Accordingly, after the report was considered at the Committee of Supply by the House, the Bill was read the third time and passed into law.
In his remarks, the Speaker of the House, Mr. Aniekan Bassey, directed the Clerk, Mrs. Mandu Umoren to communicate the decision of the House to the executive arm of government.
The House has adjourned the plenary to Thursday, September 23, 2021.