ADVERTISEMENT

Governor presents N365b budget for 2017

The Speaker of the State House of Assembly also promised that the House would give the Bill speedy attention.

Akwa Ibom governor, Udom Emmanuel

The governor said in Uyo on Thursday that the proposal was made up of N193. 9 billion for capital expenditure, N88.4billion recurrent expenditure and N82.8billion consolidated revenue fund charges.

Emmanuel explained that the 2017 budget size was lower than the N423billion budgeted for 2016 by N58 billion representing 13.7 per cent.

Emmanuel said that the sources of financing the budget included derivation fund estimated at N120 billion, internally generated revenue of N27.8 billion and statutory allocation of N15 billion.

ADVERTISEMENT

Other sources are retained revenue from parastatal groups estimated at N2.32 billion while value added tax would give N10 billion.

Christened the “Budget of Consolidation”, it is aimed at expanding the economic activities in the state as well as promoting the industrialisation policy of government.

Emmanuel said that the budget would focus on promotion of trade, commerce and tourism between Akwa Ibom and the rest of the world.

Speaker of the State House of Assembly, Mr Onofiok Luke, promised that the House would give the Bill speedy attention.

Luke said the legislature would be thorough in the performance of its oversight functions to ensure that the budget was properly implemented for the benefit of the citizens.

ADVERTISEMENT

The speaker thanked the state governor for putting in his best to keep the state going in this period of economic recession.

He pledged that the State Assembly would always cooperate with the executive arm to bring succour to the citizens.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Adamawa Police reaffirms ban on motorcycles in Yola

Adamawa Police reaffirms ban on motorcycles in Yola

You make bold decisions & live with consequences - Ondo Gov hails Tinubu at 72

You make bold decisions & live with consequences - Ondo Gov hails Tinubu at 72

170 electrical vandalism cases in 2 years, 100 charged to court - EEDC

170 electrical vandalism cases in 2 years, 100 charged to court - EEDC

Tinubu appoints Bello as chairman of code of conduct bureau

Tinubu appoints Bello as chairman of code of conduct bureau

Don't curse, condemn Nigeria in your sermons - Tinubu tells clerics

Don't curse, condemn Nigeria in your sermons - Tinubu tells clerics

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Wike thanks Tinubu for the opportunity to serve

Wike thanks Tinubu for the opportunity to serve

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT