…Say AKHA Has Moved From Tradition To Parliamentary Convention
By Edifon Abasi-obot
The Akwa Ibom State Commissioner for Economic Development, Labour and Manpower Planning, Barrister Ekong Sampson, has highlighted the potentials of the State’s 2019 Budget of “Industrialization for Poverty Alleviation”, to drive a holistic development and particularly stimulate economic growth in the State.
The Commissioner gave the analysis in a briefing at the Public Hearing held on the 2019 Appropriation Bill, organized by the House Committee on Appropriation and Finance, on Thursday, December 6 2018, at the Akwa Ibom State House of Assembly complex.
Barrister Ekong Sampson, a two-time member of the House, who represented Mkpat Enin State Constituency in the Fourth and Fifth Assemblies, commended the Speaker, Barrister Onofiok Luke, and members of the Sixth Akwa Ibom Assembly for sustaining the practice of gathering key stakeholders every year to appraise the State’s budget framework.
He said that Public Hearing has graduated from just a tradition to a Parliamentary Convention and lauded the 6th Assembly for keeping tab with best practices.
The Economic Development boss maintained that the predominant goal of the 2019 budget proposal showcases the determination of Governor Udom Emmanuel-led Government to harness human and natural resources in the State to create sustainable means of livelihood for the people, to make them self-sufficient and less dependent, and to move the state towards becoming the industrial hub of the region and indeed the nation.
He further explained that the budget has been designed to lay a solid foundation in physical infrastructure and human capital for long-term socio-economic transformation as well as link the State to global resources and opportunities and enthrone best practices as an abiding principle of governance.
Barrister Sampson assured that the attainment of the goals of this budget, based on Key Performance Indicators (KPIs), will help to raise an enterprising people and build an economy that will break out of current limitations based on attitude and mindset, halt and reverse the tide of poverty and corresponding effects on the State’s economy.
Affirming an earlier briefing by the State Commissioner of Finance, Mr. Linus Nkan, that the Akwa Ibom State Government, as against the approved revised provision of N646.649 billion in 2018, has proposed a total budget size of N670.718 billion for the 2019 financial year, made up of N97.096 billion Recurrent Expenditure, N445.936 billion Capital Expenditure and Consolidated Revenue Fund Charges of N127.686 billion, the Economic Development boss explained that N149.461 of the projected capital receipts is to be transferred from consolidated revenue fund while the balance of N296.475 billion is to be realized from Opening Balance from 2018 account (N10.000), Internal/External Loans (N49.475), Grants (N60.000b), Ecological Funds (N21.000), Re-imbursement from Federal Government (N80.000), Investment Income (N1.000) and Exceptional/Extraordinary Income (N75.000).
In his further analysis of sectoral allocation, Ekong Sampson explained that the 2019 budget gives priority to projects and programmes under the real or economic sector (64.2%), which is meant to fund various subsectors such as agriculture, cooperatives, manufacturing and craft, mining, physical infrastructures, adding that this will allow Government to deliberately stimulate economic growth and diversify the economy for more opportunities to be created.
Barrister Ekong Sampson stated that the 2019 budget therefore focuses the present administration’s policy thrust of gradual movement away from dependency on statutory allocation as the main source of revenue to the State, improving IGR and providing enabling environment to encourage private investments, creating employment opportunities and improving the living standard of the people.
To ensure the successful implementation of the budget, the Commissioner advocated for the use of quarterly work plans to guide proper implementation by all MDAs and restated his Ministry’s commitment to a holistic Monitoring and Evaluation (M&E) framework, based on Key Performance Indicator (KPIs) that will effectively track its implementation and mid-year review of the budget to ascertain its success in positioning the State’s economy among the comity of leading economies in Nigeria.
That Chairman House Committee on Appropriation and Finance, Dr Usoro Akpanusoh, gave assurance that the committee will explore all measures, at the committee level, to ensure that Akwa Ibom people get the best out of the 2019 budget and in good time.
