Akwa Ibom slash 2020 budget from N597.7bn to N195bn

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Akwa Ibom State governor, Udom Emmanuel accepts a downsize of the state’s 2020 budget from N597.7bn to N195bn.

Akwa Ibom State House of Assembly had on Wednesday passed into law the amended 2020 appropriation law from initial N597.74billion outlay to N195billion, due to the COVID-19 pandemic.

This was contained in a letter sent by the State Governor, Mr. Udom Emmanuel and received by the Assembly during its emergency plenary at the Assembly complex in Uyo.

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According to the Bill, as amended, “The Accountant General of Akwa Ibom State may when authorized so to do by warrants issued by the Governor of Akwa Ibom State, in addition to the sums provided for in Section 1 of the Appropriation Law, 2020 pay by warrants not exceeding savings in the sum of Thirteen Billion Naira from the Consolidated Revenue Fund and One Hundred and Eighty-Two Billion, Six Hundred and Thirty-Five Million Naira from the Capital Development Fund.”

Therefore, the total overall size of the reviewed budget stands at One Hundred and Ninety-Five Billion Naira (N195.6b).

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Presiding over the plenary, the Speaker, Rt. Hon. Aniekan Bassey applauded Governor Udom Emmanuel for taking the step to review the year’s budget downward is very timely to brace up with the economic recession experienced all over the world.

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