As Akwa Ibom State House of Assembly has passed the 2020 Budget into law, the state government stands to benefit from $3 million windfall from an international body.
The assembly during its plenary on Thursday, December 5 passed the state 2020 appropriation bill of N597.73 billion.
Recall that during a one-day public hearing on A bill to appropriate monies out of the Consolidated Revenue Fund and Capital Development to the service of Akwa Ibom Government and for other matters connected therewith organised by House Committee on Appropraition and Finance on Monday, October 22, Mr. Akan Okon, the state Commissioner for Economic Development and Ibom Deep Seaport, said World Bank and other international bodies are always unhappy with late passage of budget.
Presenting his ministry’s position paper, Okon announced that an international organisation (he did not mention the name) would pay the state government a whopping $3 million bonanza if the House passes the budget on time and it is published in the state governmen’st website by the first week of January 2020.
The 2020 budget is made up of N369.58 billion capital expenditure, N111.23 billion recurrent expenditure, and N116.93 billion consolidated revenue.
The Nigeria News Agency (NAN) reports that the House had earlier dissolved into Committee of the whole after a motion by House Leader, Mr Udo Kierian (PDP– Oruk Anam) and seconded by Mr Aniefiok Akpan (PDP– Etinan) to consider the appropriation bill.
The Speaker of the House, Mr Aniekan Bassey thanked Ministries, Departments and Agencies (MDAs) that appeared before the House Committee on Finance and Appropriation during budget defence.
Bassey said that by the passage, the commencement date for the 2020 appropriation would be January 1, 2020.
He said that the overall objective was to give priority to areas of immediate importance to the Akwa Ibom people.
He directed the clerk of the House, Mrs Mandu Umoren to send clean copy of the bill to Governor Udom Emmanuel for assent.
