Governor Udom Emmanuel of Akwa Ibom State has signed the 2020 Appropriation Bill into law. The Governor performed the exercise in the presence of the Speaker of the House of Assembly, Aniekan Bassey and was assisted by the Commissioner of Finance, Nsikan Linus Nkan and the Attorney General and Commissioner for Justice, Uwemedimo Nwoko in the executive council chambers of the governor’s office.
Governor Emmanuel had on October 8, 2019, presented the bill with a total budget outlay of N597.800 billion for the 2020 financial year to the assembly.
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The revised 2020 budget is made up of N111.250 billion for Recurrent Expenditure, N369.577 billion for Capital Expenditure and N116. 934 billion for Consolidated Revenue Fund Charges.
Akwa Ibom is one of the high revenue earners from the federation account and its budget is expected to address key issues of youth unemployment, industrialisation and physical infrastructure.
