THE Akwa Ibom State House of Assembly (AKHA) had on Thursday passed into law, a budget of N700 billion only, for 2023.
According to the House, N355.995 billion of the budget is for capital expenditure, while N344.005 billion is for recurrent expenditure.
The 2023 budget comes off with a 0.4 percent increase in the executive’s proposal, due to a report which was presented by the Chairman of Committee on Finance and Appropriation, Uduak Odudoh.
It will be recalled that sometime in November, the governor of Akwa Ibom State, Udom Emmanuel had presented a N697.005 billion to the House for consideration and deliberation.
Regarding the proposed budget for 2023, the AKHA pleaded the executive to release funds on time to Ministries and other government agencies to aid them in the execution of their proposed projects
Meanwhile, the speaker of the AKHA, Hon. Aniekan Bassey thanks the House Committee on Finance and Appropriation for ensuring that the budget is passed into law in quick time, while pledging that the parliamentarians will continue to create cordial relationship with the other arms of government.