The Akwa Ibom State House of Assembly on Wednesday passed the 2019 appropriation bill of N672,984,760,760 into law.
The bill represents an increase of over N2bn from the previous figure presented by Governor Udom Emanuel to the House which stood at N670.72bn
The passage of the bill came as the House also on Wednesday passed a resolution authorising the state government to obtain a loan facility for the procurement of Closed Circuit Television cameras for Uyo metropolis.
Giving a breakdown of the budget, the Speaker of the House, Onofiok Luke, said N97.3bn was earmarked for recurrent expenditure, N447.9bn for capital while the Consolidated Revenue Fund charges stood at N127.6bn.
He expressed appreciation to members of the Appropriation and Finance Committee for their commitment and support which led to the quick passage of the bill.
Luke added, “We tailored the bill to meet salient socioeconomic agenda of the government, and of particular interest to us are infrastructural development, job creation and revenue generation.
“And to keep the budget in sync with current needs, and having considered the opinions of Akwa Ibom people and stakeholders, we decided to increase the total budget outlay by a little over N2bn to bring the 2019 estimates to N672, 984,760,760.
“Our overall objective is to see to it that priority is given to areas of immediate importance to the people while we pursue the larger goal of full-scale industrialisation.
“The resolution of the CCTV cameras followed a letter from Governor Udom Emanuel to the House members seeking their approval for a loan facility to the tune of N1.728bn for Uyo metropolis.”
In his submission, a member representing Oruo-Anam constituency, Udo Kierein, said it was imperative for the House to support Emmanuel’s initiative to secure the state for investment to thrive.