2012 Akwa Ibom Appropriation Bill of N407 billion signed
Akwa Ibom Governor Mr Godswill Akpabio has signed the state's 2012 Appropriation Bill totalling 407.8 billion Naira into law.
A breakdown of the Bill shows that the Capital Expenditure is allocated 341 billion Naira while Recurrent Expenditure is given 66.2 billion Naira.
This is against 419 billion Naira Appropriation Act of 2010.
Governor Akpabio had on Tuesday, December 6, presented a budgetary proposal of 397.1 billion Naira to the Akwa Ibom House of Assembly for deliberation and passage into law.
Mr Akpabio who signed the bill on Friday at the Governor’s Office, Uyo explained that Capital Expenditure has 80 per cent while Recurrent Expenditure is given 20 per cent.
He thanked Akwa Ibom State House of Assembly for the quick passage of the Appropriation bill into law, lauding the harmony and cordial working relationship existing among the three arms of government in the state that has resulted in the uncommon transformation.
The Governor warned that nobody should turn the state into a sharing economy, stressing that his administration would not tolerate anybody wanting to bring down the tempo of development in the state. He pledged to implement the budget to the letter by actualizing every item in it to create gainful employment opportunities.
The southern Nigeria state Chief Executive announced that the state government had commenced the construction of Akwa Ibom State Sports Stadium and would soon commence the dualisation of Ekom Iman- Etinan Road, Etinan-Eket Road as well as Uyo-Ikot Ekpene Road to ease traffic.
He further announced that the government would commence the construction of new terminal building at Akwa Ibom International Airport in 2012, revitalize Akwa Palms as well as pay priority to agriculture not just the farming aspect but the processing to create more jobs for people.
PR/Gloria/Williams
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