AK- ASSEMBLY TO FAST TRACK PASSAGE OF N597B BUDGET OUTLAY FOR 2020
…IBOM DEEP SEAPORT OPERATIONAL WITHIN FOUR YEARS
The Akwa Ibom State House of Assembly has promised to play needed legislative role that will ensure the passage of N597billion budget size of 2020, without delay.
The Speaker of the 7th Assembly, Rt. Hon. Aniekan Bassey said this in his speech, yesterday, after the presentation of the 2020 fiscal estimate by the Executive Governor of Akwa Ibom State, Mr. Udom Emmanuel.
The House however charged Ministries, Departments and Agencies (MDAs) to give utmost cooperation to realise the speedy passage of the 2020 Appropriation Bill of the State.
“For the House to conclude deliberations in this budget speedily, let me charge the various Ministries, Departments and Agencies (MDAs) to please ensure they provide all the necessary supporting budget data and stick to the time table that will be announced by the House Committee on Appropriation and Finance.”
The Speaker also assured the Governor that through its representative, legislative and oversight functions, 2020 budget will deliver on its promises to stimulate the economy of the State.
Meanwhile, the Executive Governor of Akwa Ibom State, Mr. Udom Emmanuel during the 2020 budget presentation promised that Ibom Deep Sea Port will be operational within the lifespan of his administration.
“The activities and regulatory processes towards the development of the Ibom Deep Sea Port is ongoing, with God on our side, the Ibom Deep Sea Port will be operational within the lifespan of our Second Term in office.”
From the N597.800 billion budget outlay N111.225b is for Recurrent Expenditure, N369.642b is for Capital Expenditure while N116.993b is for Consolidated Revenue Fund Charges.
According to 2020 budget tagged “The Budget of Industrialization for Poverty Alleviation Phase II,” premium has been given to the educational sector by allotting the sum of N11.45b to the sector.
It is also the resolve of the Government through its budget to build more industries and attract more Foreign Direct Investment to the state while consolidating ongoing programs and projects in other sectors of the economy.
Focus is also on the completion of Sheraton Hotel, Ikot Ekpene which is 98% ready and Ibom Tropicana Entertainment Centre.