Akwa Ibom Assembly Passes N456.25bn Appropriation Bill Into Law
The Akwa Ibom State House of Assembly Tuesday passed into Law the state appropriation bill of N456.25billion for the 2021 fiscal year.
The 2021 appropriation bill is broken down to of N164.52billion Recurrent expenditure, N241.45billion Capital Expenditure and N50.3billion for Consolidated Revenue Fund Charges.
This is against the N435.65billion proposed by the governor, Mr Udom Emmanuel to the House of Assembly in the month of October.
The bill was passed after the adoption of the report of the House Committee on Finance and Appropriation Committee, presented by the Chairman, Mr Uduak Odudoh, during Tuesday plenary.
Odudoh explained that Ministries Departments and Agencies (MDAs), Non-Governmental Organisations and other relevant publics participated in the budget process before its passage via Public hearing held on November 3, 2020.
The committee recommended that as a way of enhancing “Internally Generated Revenue (IGR) MDAs should, as much as practicable, award contracts to non-limited liability companies, since taxes on this category of companies are payable to the State Board of Internal Revenue as against limited liability companies that pay taxes to the Federal Inland Revenue Service.
In his remarks, the Speaker, Mr Aniekan Bassey, directed the Clerk of the House, Mrs Mandu Umoren to communicate the message to Governor Udom Emmanuel.
He commended his colleagues for their diligence in carrying out their legislative businesses and wished them well in the new legislative year.