Tuesday, 26 January 2016

Ak Govt ready to improve living conditions of citizens

Ak Govt ready to improve living conditions of citizens

The Commissioner for   Finance, Mr. Akan  Okon says despite paucity of funds, the state government is poised to generate policies and programmes that are people-oriented to improve living conditions and standard of living of AkwaIbom people.

Speaking in Uyo during the 2016 Pre-Budget Briefing/Public Presentation organized by the AkwaIbom State House of Assembly Committee on Appropriation and Finance held recently, Mr. Okon described the 2016 Budget of Sustainable Development as a pragmatic platform by the present administration to heighten the socio-economic empowerment of the people.
On the objective of the budget which is based on the medium term expenditure framework,the Commissioner asserted that it was anchored on the five-point agenda of the State government geared towards consolidation of the achievements of the last administration, as well as to set out the direction of governance into the future.

He further stated that the budget was also in pursuit of the development of key sectorial linkages such as Roads and transportation, health, education, agriculture, rural and urban development, land and housing, completion of Ibom Science Park, among others, to pave way for socio-economic activities that would create wealth and generate employment.

Breaking down the 2016 Budget proposal of N426 Billion against N484 Billion of 2015, the Finance Boss pointed out that the 13.6 per cent reduction was to make the budget more achievable and to align with the Federal Government’s  oil benchmark of $38 per barrel.

According to him, the sum of N181 billion out of the stated amount is earmarked for Recurrent expenditure or 42.5 per cent, while Capital budget is to consume N245 billion or 57.5 per cent.

Mr. Okon said AkwaIbom government would source N284.665 billion from such revenues as Internally Generated Revenue, Statutory Allocation, Derivation Funds, Retained Revenue from MDAs, as well as Value Added Tax (VAT), adding that N141.334 billion is to be raised through Opening Balance from 2015, Internal/External loans, grants, ecological funds, among others.

The Commissioner applauded the State House of Assembly for its constructive partnership with the Executive, asserting that the strong tie between the two is the driving force behind the great strides of the present administration.

He described Governor Udom Emmanuel as a visionary leader who has demonstrated sincerity of purpose, passion, capacity and commitment for the advancement of AkwaIbom interest, calling on all to encourage and support him realize his lofty plans for the State.

The Speaker of the State House of Assembly, Rt. Hon. Onofiok Luke while declaring the event open said it was their bid to ensure participatory inputs from members of the public, and urged participants to take advantage of the forum to make contributions that would further add value to the 2016 budget.
The House Committee Chairman on Finance and Appropriation,  Rt. Hon. AkpanUsoh said the executive and legislative arms were working assiduously to ensure maximal usage of available funds to suit the needs of the people, adding that making AkwaIbom people key players in budget making process was in line with the goals of the sixth Assembly.

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