Home / Breaking News / AKHA Passes 2020 Appropriation Bill into Law …Slashes #65.000m on Capital Expenditure
AKHA Passes 2020 Appropriation Bill into Law  …Slashes #65.000m on Capital Expenditure

AKHA Passes 2020 Appropriation Bill into Law …Slashes #65.000m on Capital Expenditure

By:Amadie Udoakpan

The Akwa Ibom State House of Assembly has during it’s plenary today,passed into law the 2020 Appropriation bill.

The speedy passage of the bill into law was sequel to the reports and recommendations submitted on the floor of the house by the chairman,house committee on finance and appropriations and member representing Ikot Abasi/Eastern Obolo state constituency, Rt. Hon. Uduak Ududoh.

The presenter of the reports, Hon Ududoh said the 39page document was made possible after the committee was assigned the responsibility of of scrutinising the bill as presented by His Excellency,Mr Udom Emmanuel on October 8th,2019,he added that the committee adopted a participatory approach by organising a public hearing,also, engaging various stakeholders including MDAs,NGOs, Labour unions, political parties among others.

“At the forum,the honourable commissioner for finance briefed Akwa Ibom people on the revenue profile and policy thrust of budget while the commissioner for Economic Development and Ibom Deep Seaport highlighted on the capital components and implementation strategies”he explained.

Ududoh added that the 2020 budget was prepared using the International Public Sector Accounting Standards (IPSAS) accrual template which he said was a package that classifies transactions into revenue, expenditure, assets and liabilities which aids effective and efficient financial analysis.

Recall that the governor,Mr Udom Emmanuel had presented a budget outlay of #597.800bn as against the #672.985bn of 2019.The sum which covered #111.225bn-recurrent expenditure, #369.642bn-capital expenditure and #116.933bn for consolidated revenue fund charges.

However, the budget size of#597.800bn was slashed down to #597.735bn, covering recurrent expenditure #111.225bn, capital expenditure #369.877bn and consolidated revenue fund charges #116.934bn.

In the reports,the revised budget size represents a decrease of 0.01% of the original size of #597.800bn, it also showed a decrease in the capital expenditure by #65.000m.

The key submissions made by committee through the chairman were: that the state fire service be sufficiently equiped and made functional to be able to combat the incessant fire outbreaks and emergencies in the state, among other recommendations.

The speaker of the house after the reports was dully moved by the chief whip,Rt.Hon Emmanuel Ekpeyong and seconded by the deputy chief whip,Rt.Hon. Nse Essien,desolved the house to the committee on supply to consider the reports of the 2020 appropriation bill.

The speaker after the bill was read the 3rd time pronounced that the 2020 appropriation bill be passed into law effective from 1st January,2020 and the clerk of the house was mandated to communicate same to His Excellency Mr Udom Emmanuel.

In his remarks,the speaker,Rt.Hon Aniekan Bassey said, “Today marks the watershed in the life of the 7th assembly as we have just passed the 2020 Akwa Ibom State budget estimate into law. With this,we have practically given our consent and inspiration to the executive arm to go ahead with the implementation of the 2020 budgetary estimate and provisions…”

While thanking the chairman and the various MDAs for their cooperation , admonished those that nearly stalled the early passage of the budget that the 7th assembly ,would no longer tolerate such tardiness in their avowed readiness to work for the collective good of Akwa Ibom people.

He reiterated the 7th assembly’s continual building of robust and impactful relationship with other arms of government so that the state could move forward.

The plenary was adjourned to reconvene on Tuesday the 10th day of December,2019 by 10.00hours.

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