The Executive Governor of Akwa Ibom State, Mr Udom Emmanuel on Wednesday, 18th December, 2019 signed the State budget for year 2020 into Law.
This took place shortly after an executive session at the executive Chamber in Government House, Uyo the State capital. Mr Emmanuel signed a budget of N597.735 billion into law which is to take effect from January 1st, 2020. This was witnessed by the Speaker of the State House of Assembly, Rt. Hon. Aniekan Bassey and members of the State Executive Council.
It can be recalled that on 5th December, 2019, State House Of Assembly had passed an appropriation bill.
The 2020 Budget outlay of N597.735 billion, is made up of N111.250 billion for Recurrent Expenditure, N369.577 billion for Capital Expenditure and N116.934 billion for Consolidated Revenue Fund Charges.