The Akwa Ibom state Governor, Udom Emmanuel, Today, presented a N597 billion 2020 budget to the state House of Assembly for consideration.
The budget is made up of N111 billion recurrent expenditure, N369 billion capital expenditure and N116 billion consolidated revenue.
Christened “Budget of Industrialisation for Poverty Alleviation Phase II,” the budget is targeted at building more industries as well as attracting direct foreign investment to the state.
The governor said the preparation of the budget was guided by the International Public Sector Accounting Standard (IPSAS).
According to Governor Emmanuel the policy objective of the budget is to broaden and diversify of the state’s resource base through improvements in Internally Generated revenue.
Roads and transport got N115billion; Education N11 billion; Agriculture N12 billion; Land, Housing and Urban Development N53 billion; Investment, Culture and Industry N6 billion; and Health N4 billion.
In his remarks, Speaker of the house, Aniekan Bassey, assured the governor that the lawmakers would quicken the consideration process to ensure speedy passage of the budget. (NAN).
(C) Control TV 2019.
