AKHA Passes N955bn Budget Estimate For 2025 Fiscal Year

By Uduak Akai
UYO
A total of N955 billion estimated budget proposal for 2025 fiscal year, with 21 internal adjustments, has been passed by the Akwa Ibom State House of Assembly (AKHA) for implementation by the state government.
The passage was sequel to the report submitted by the House Committee on Appropriations and Finance chaired by the member representing Uruan State Constituency, Dr. Itorobong Etim, for consideration during Tuesday’s plenary at the Assembly Complex, Udo Udoma Avenue, Uyo.
Etim explained that the committee, while legislating on the budget, successfully amended 17 items on recurrent and four items on capital expenditure, bringing to 21 the number of items amended on capital and recurrent expenditure.
She disclosed that it was necessary for the committee to carry out these internal adjustments between heads and sub-heads in some ministries, departments and agencies (MDAs) to effectively meet their urgent needs.
According to the committee chairman, under the Ministry of Education, the committee saved N4.670 billion from the proposed provision of N14.100 billion, reducing the provision to N9.430billion, while the sum of N7.900 billion was saved from the proposed provision of N51.000 billion for the Ministry of Health, thus reducing to N43.100 billion in their capital expenditure.
The Uruan lawmaker stated that the committee recommended the sum of N300,000,000.00 for recurrent expenditure and the sum of N655,000,000.00 for capital expenditure, bringing the total to N955,000,000,000.00 budget outlay for 2025 fiscal year.
The 2025 budget, christened,“Budget of Consolidation and Expansion,” is predicated on the oil bench mark of $75 per barrel per day and an estimated exchange rate of N1,400 per dollar.
The member representing Nsit Ubium State Constituency and deputy leader, Mr. Otobong Bob, a lawyer, moved the motion for the passage of the Appropriation Bill and it was seconded by Mr. Eric Akpan of Nsit Ibom State Constituency, after careful deliberations by members during the Committee of Supply and the Whole.
The 2025 Appropriation of N955billion was read the third time and passed on the floor of the Assembly.
The speaker, Elder Udeme Otong, directed the clerk, Mrs. NsikakAbasi Orok, to communicate the resolution of the House to the executive for implementation.