Connect with us

News

Gov Emmanuel presents 2022 budget proposal of ₦582.1bn to Akwa Ibom Assembly

Published

on

Udom Emmanuel

The Akwa Ibom State Governor, Udom Emmanuel, on Monday presented the 2022 budget proposal of N582.115 billion to the state House of Assembly.

This was N16.86 billion lower than the 2021 budget.

The governor said the sum of N260.15 billion was set aside as recurrent expenditure and N321.96 billion for capital expenditure in the budget.

According to him, the total projected recurrent revenue for 2022 was estimated at N273.85 compared to N260 billion approved for this year.

He said the preparation of the budget was guided by the International Public Sector Accounting Standard (IPSAS).

Emmanuel said: “The 2022 budget was predicated on an oil benchmark of $57 per barrel at a production rate of 1.88 million barrels per day with an estimated exchange rate of ₦410.15 to the dollar in line with the National Budget benchmark projections.

READ ALSO: Gov Udom slams NBS ‘political’ report of 51% unemployment index in Akwa Ibom

“The budget will focus on the eight-Point Completion Agenda to include Industrialization, Education, Aviation Development, Rural, and Riverine Area Development, Agriculture, Small and Medium Scale Enterprises, Infrastructure Expansion, and Consolidation, Security and Human Capacity Development. The comprehensive economic agenda cut across all aspects of Sustainable Development Goals (SDGs).

“We intend to achieve a sizeable number of the SDGs targets as we implement the 2022 budget. The main thrust, however, of the 2022 Budget is to create more jobs for our teeming youths.

“The objectives of the 2022 budget were to stimulate the state’s economy with a view to creating more opportunities for gainful employment of our citizens through industrialization and agriculture.”

In his remarks, Speaker of the Assembly, Aniekan Bassey, assured the governor that the lawmakers would ensure speedy passage of the budget.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations