The Akwa Ibom State House of Assembly has passed into Law the states Supplementary Budget of N142.72billion into Law.
The supplementary budget is made up of N39.30billion recurrent expenditure and N103.42billion capital expenditure.
This followed the presentation of the report of the House Committee on Appropriations and Finance by its Chairman, and member representing Ikot Abasi State Constituency, Uduak Odudoh to the House during the Tuesday plenary.
Recall that on Tuesday, September 14, 2021, the House had received the Supplementary Budget from the Executive, urging it to augment the initial 2021 Budget of N456.3bn for her to continue to carry out its programmes.
The executive demand for speedy consideration and passage of the bill informed the accelerated hearing it was given after it was received by the House.
Presenting his Committees report, Odudoh noted that they were made to understand during deliberations that the Supplementary Budget was borne out of the need to realign priorities in line with the Completion Agenda of Governor Udom Emmanuel administration.
The Supplementary Budget as explained by Hon. Commissioner for Finance Dr. Linus Nkang and Hon. Commissioner for Economic Development, and Ibom Deep Seaport, Mr Akan Okon were basically meant to cater for effects of inflation, escalating foreign exchange rates on priority and key programmes and projects of the government to make for effective and on-schedule delivery, he noted
Accordingly, after the report was considered at the Committee of Supply by the House, the Bill was read the third time and passed into law.
In his remarks, the Speaker of the House, Mr. Aniekan Bassey, directed the Clerk, Mrs. Mandu Umoren to communicate the decision of the House to the executive arm of government.
The House has adjourned the plenary to Thursday, September 23, 2021.