The Akwa Ibom State House of Assembly has passed the 2024 Appropriation Bill with a revised outlay of N849,970,759,990 Billion against the earlier projected outlay of N845,632 Billion.
The Bill was passed during the House session on Thursday, December 21, 2023, presided over by the Speaker, Rt. Hon Udeme Otong after due consideration of the report of the Committee on Finance and Appropriation at the Committee of Whole and Supply.
The total overall increase of 2024 Estimates is N4,338,350,000 Billion.
According to the report of the Finance and Appropriation Committee, the House approved an increase in the Recurrent Expenditure with the sum of N6,148,150,000 Billion totalling N359,065,431,810 Billion against the original N352,917 Billion.
The Capital Expenditure has been decreased with the sum of N1,809,800,000 having a total sum of N490,905,328,180 Billion against the initial proposed sum of N492,715 Billion.
While presenting the report, the Chairman of the Finance and Appropriation Committee of the House, Hon Itorobong Etim said the 2024 augmentations and savings were spread to the designated sectors due to priority given to projects and programmes under Economic, Administration, Social, Law and Justice, and Regional, respectively.
After due consideration of the recommendations contained in the report by the House Committee on Finance and Appropriation at the Committee of the Whole and Supply, the report was adopted as moved by Rt. Hon Otobong Bob – the Deputy Leader of the House and seconded by Rt. Hon Effiong Johnson – the Chief Whip of the House and subsequently passed into law.
The Speaker ordered the Clerk to communicate the House decision to the Executive Governor of the State, Pastor Umo Eno.
