Governor Udom Proposes 597.800 billion naira budget for 2020
Written by COMFORT 95.1FM on October 8, 2019
Akwa Ibom State Government has proposed 597.800 billion Naira budget size for 2020, as against the 672.985 billion Naira budget of 2019.
Governor Udom Emmanuel, who today presented the 2020 Appropriation Bill tagged the Budget of Industrialization for Poverty Alleviation Phase Two before the State House of Assembly, said the budget is predicated on an oil benchmark of fifty five dollars per barrel.
A breakdown of the total budget size shows that 111.225 billion Naira is proposed for Recurrent Expenditure, 116.933 billion Naira for Consolidated Revenue Fund Charges and 381.556 billion Naira as Capital Expenditure.
Governor Emmanuel noted that priority would be given to economic and education sectors in the 2020 fiscal year.
He listed projects covered in the budget to include construction of drainages in Uyo to mitigate flood in the capital city, especially the IBB Way flood, at 2.7 billion Naira, completion of Ibom Tropicana, remodeling of Ibom Five-Star hotel, promotion of micro small and medium enterpries, improvement of the health sector at 4.6 billion naira.
Governor Emmanuel assures Akwa Ibom people that the government will continue to support security agencies in the state via provisionsm of logistics needed to maintain the peace enjoyed across Akwa Ibom.
He also promised that the existing cordial relationship between the Executive and other arms of government will be maintained, even as he
appealed to Akwa Ibom people to lend their support to government’s policies and programmes aimed at serving them in truth and improving their living standard.