A Bill to establish the Akwa Ibom State Fiscal Responsibility Board has been read for the third time at Tuesday’s plenary and passed into law by the State House of Assembly.
This follows a report submitted by the Chairman of the House Committee on Finance and Appropriation, Rt Hon Uduak Odudoh.
According to the report, the Board when established “will ensure prudent management of state resources as well as ensure accountability and transparency in fiscal operations. It will also ensure disclosure of information relating to revenue and other transactions in the state.”
Explaining the importance of Board, Rt. Hon. Odudoh, who represents Ikot Abasi/Eastern Obolo State Constituency, said “setting up of the Board is in compliance with international best practices since the State budget is based on empirical analysis.”
Also, the law will bring the state into better compliance with economic objectives of government as enumerated in Section 16 of the Constitution of the Federal Republic of Nigeria (as amended).
The House, which dissolved to the Committee of the Whole to consider the Report, unanimously voted for the passage of the Bill into Law.
The Speaker, Rt. Hon. Aniekan Bassey, immediately directed the Clerk of the House, Mrs Mandu Umoren, to communicate the passage of the Bill to Governor Udom Emmanuel for further action.
