Akwa Ibom State Governor, Mr. Udom Emmanuel, has presented a budget estimate of N697.005 billion for the 2023 fiscal year.
The budget, christened ‘Budget of Completion’, has a Capital Expenditure of N353 billion and N344.005 billion for recurrent expenditure, totalling N697.005 billion as against the previous year’s revised provision of N631.881 billion.
Presenting the budget at the House of Assembly, Uyo, Governor Emmanuel explained that the budget was predicated on an oil benchmark of $70 per barrel at a production rate of 1.69 million barrels per day and was focused on the policy thrust of consolidating on the gains of the eight-point Completion Agenda.
The Governor also said that the Policy Objectives of the 2023 budget would include: stimulating the state’s economy to create opportunities for gainful employment through industrialisation, agriculture as well as air and sea infrastructure; continued support for the SMEs, amelioration of poverty among vulnerable groups, including women and persons living with disabilities among others.
Governor Emmanuel further appealed for due consideration and timely approval of the 2023 budget, promising to faithfully implement its provision for the benefit of the people of the state.
