sent a supplementary budget of N70 billion for this financial year to the state house of assembly for approval.
This follows unanimous approval of the budgeton Thursday by members of the state executivecouncil presided over by the Akwa-Ibom State Governor, Chief Godswill Akpabio at the exco chambers of the governor’s office, Uyo.
Before now, Akwa Ibom State had approved N470 billion for the state’s 2013 budget and the Appropriation Bill was later signed into law by the governor.
Akpabio said the budget would fast track the completion of critical infrastructural projects in the state, mainly some roads project that his administration flagged off for construction this year.
Akpabio expressed the hope that on completion of the projects and other on-going ones would change lives and provide enabling environment for economic investments.
Earlier, the state Commissioner for Finance, Mr. Albert Bassey had said “to realign our priorities in line with current economic realities, and the need to achieve a balanced socio-economic development and fast track the completion of key and critical infrastructural projects to fully reposition Akwa-Ibom State towards the expected economic revolution, this amended supplementary estimates is now placed before council for consideration and approval.”
Akpabio explained that an initial N470.080 billion was approved by the state house of assembly, a breakdown showing that N351.285 billion was for capital expenditure while N118.795 billion was for recurrent expenditure.
He stressed that the N70 billion supplementary budget was for completion of capital projects such as the dualisation of Eket-Ibeno Road, erosion control at Dominic Utuk Road, Uyo, dualisation of Eket- Etinan Road, dualisation of Eket- Uyo Road, Uyo-Ikot Ekpene Road and other numerous projects.
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