Akwa Ibom State House of Assembly has said it will continue to make people-oriented legislations that are tailored to the policy thrust and economic reforms of Governor Udom Emmanuel.
The Speaker, Rt. Hon. Aniekan Bassey, made this known at Plenary on Tuesday when the State Governor, Mr. Udom Emmanuel, appeared before the House to present the 2021 Budget Estimates.
Rt. Hon. Bassey lauded the Governor for giving premium to education in the 2021 budget proposal, adding that the budget estimates when passed into law, will boost the state Internally Generated Revenue (IGR), to avoid over dependence on federal allocation.
He said the House completely aligns with the Governor’s emphasis on aviation, security, healthcare, rural communities and human capacity development and further expressed hope that the 2021 Budget will consolidate and improve on the performance of the 2020 Budget and deliver democratic dividends to the people.
Rt. Hon. Bassey further assured that the House would ensure absolute performance of the 2021 Budget through oversights on Ministries, Departments and Agencies (MDAs) and acknowledged the strides recorded by the current administration, particularly efforts in tackling the COVID-19 pandemic and addressing Police brutality in the state.
“As the People’s Assembly, we will ensure absolute performance of the 2021 Budget through oversights on Ministries, Departments and Agencies (MDAs). We will ensure this because we want to continually be part of the success story of your administration”, he said.
In his address, Governor Udom Emmanuel proposed a total budgetary outlay of N435.652billion for the 2021 Financial Year as against the approved revised provision of N366.Billion of 2020, revealing that proposed budget is predicated on an oil benchmark of $40 per barrel at a production rate of 1.86 million barrels per day, with an estimated exchange rate of N379/US$, in line with the National Budget benchmark projections.
Christened “Budget of Economic Reconstruction,” Governor Emmanuel said the 2021 Budget is made up of N158.403 billion for Recurrent Expenditure, N226.964 billion for Capital Expenditure and a Consolidated Revenue Fund Charge of N50.285 billion.
He noted that the total projected Recurrent Revenue for 2021 is estimated at N255.003 billion as against the approved revised provision of N203.556 billion for 2020.
While applauding the Seventh Assembly for living up its responsibilities, the State Governor appealed for a speedy passage of the 2021 Budget to enable the current administration deliver on its completion agenda.
The House adjourned plenary to Thursday, October 22, 2020, at 10am prompt.