The Akwa Ibom State Government has approved N150 billion supplementary budget for onward transmission to the House of Assembly for consideration and approval.
The memorandum for the supplementary estimates was presented by the commissioner for Finance, Mr Nsikan Linus Nkan, at the State Executive Council meeting chaired by Governor Eno, at the Exco Chambers, Government House, Uyo.
“This supplementary financial provision is premised on the need for the realignment of financial estimates with current realities, additional provisions for flood control and other state-wide erosion control interventions,” he stated.
While noting that supplementary budget was approved towards ensuring effective implementation of the ‘Arise Agenda’, the blueprint of the State Governor, Nkan said the budgetary provisions would provide a financial lifeline for effective take-off of the newly created ministries; provisions for the construction of model primary, secondary and technical schools and “the provision of resources for the activation of the lofty promises encapsulated in the ‘Arise Agenda’.”
“The supplementary provisions total N150 billion, broken into recurrent N50.3 billion and the capital estimate of N99.689 billion. The estimates were discussed and adopted subject to the reflection of the agreed modifications,” he explained.
