Akwa Ibom State House of Assembly has passed the 2014 Appropriation Bill into law.
The total budget size as passed by the Assembly is N498.5 billion.
This amount is N29.1 billion higher than the N469.3 billion proposal presented by the Akwa Ibom State Governor, Sir (Dr.) Godswill Obot Akpabio (CON) JP.
Of the approved budget, N333 billion is provided for capital expenditure while N74.2 billion is set aside for recurrent services.
The Speaker of the Akwa Ibom State House of Assembly, Elder Sam Ikon stated that the prompt consideration of the 2014 appropriation bill was one of the mile-stones of the assembly.
He expressed the hope that the budget will enhance implementation of government programs and policies for the benefit of the people of the State.
The Speaker commended the Committee on Appropriation and Finance for the speedy work done on the 2014 budget estimate.
The Chairman House Committee on Appropriation and Finance, Barr. Onofiok Luke had presented the Committee’s report at the plenary which was consequently considered at the committee of supply which comprises of the entire members of the House.
Shortly after the plenary, the Chairman House Committee on Information, Mrs. Sarah Elijah sated that the State will benefit from the International Public Sector Accounting Standard (IPSAS) along which principles the 2014 budget is tailored.
Mrs. Elijah said with the system, issues bothering on double entries and duplication of duties by government ministries, departments and agencies will be eliminated.
In his comment, the Chairman House Committee on Judiciary, Justice, Human Rights, and Public Petitions, Barr. Ekong Sampson, also expressed the trust that the budget will meet the hopes and aspirations of the people of Akwa Ibom State.