{"id":53359,"date":"2021-10-26T12:53:22","date_gmt":"2021-10-26T11:53:22","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=53359"},"modified":"2021-10-26T12:53:22","modified_gmt":"2021-10-26T11:53:22","slug":"akwa-ibom-budgets-%e2%82%a6582-12b-for-2022","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/akwa-ibom-budgets-%e2%82%a6582-12b-for-2022\/","title":{"rendered":"Akwa Ibom Budgets \u20a6582.12b For 2022"},"content":{"rendered":"

Akwa Ibom State Governor, Udom Emmanuel on Monday presented to the state House of Assembly a proposed budget of N582.115 billion for the 2022 Financial Year.<\/p>\n

.\u00a0Christened \u201cBudget of re-defining Standards,\u201d the Appropriation Bill comprised of N260.15billion as Recurrent Expenditure and N321.96 billion as Capital Expenditure.<\/p>\n

The Governor explained that the total projected recurrent revenue for 2022 was estimated at N273.85 as against the approved revised provision of N260 billion for 2021.<\/p>\n

He said the preparation of the budget was guided by the International Public Sector Accounting Standard (IPSAS).<\/p>\n

Emmanuel said the 2022 budget was predicated on an oil benchmark of $57 per barrel at a production rate of 1.88 million barrels per day with an estimated exchange rate of \u20a6410.15 to the dollar, in line with the National Budget benchmark projections.<\/p>\n

He said the budget would focus on the 8-Point Completion Agenda to include; Industrialization, Education, Aviation Development, Rural and Riverine Area Development, Agriculture, Small and Medium Scale Enterprises, Infrastructure Expansion and Consolidation, Security and Human Capacity Development.<\/p>\n

According to him, the comprehensive economic agenda cut across all aspects of Sustainable Development Goals (SDGs).<\/p>\n

He said: \u201cWe intend to achieve a sizeable number of the SDGs targets as we implement the 2022 budget.\u00a0 The main thrust, however, of the 2022 Budget is to create more jobs for our teeming youths.<\/p>

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\u201cThe policy objectives of the 2022 budget is to stimulate the state\u2019s economy with a view to creating more opportunities for gainful employment of our citizens through industrialization and agriculture.<\/p>\n

\u201cEconomic growth and job-generating infrastructural investments in roads, bridges, renewable energy and communication technologies.<\/p>\n

\u201cPromotion of Small and Medium-scale Enterprises (SMEs) as well as enhancement of local capacities in manufacturing and use of \u201cmade in Akwa Ibom\u201d goods and services to create jobs and achieve self-sufficiency in critical sectors of the state\u2019s economy.<\/p>\n

\u201cCreation of jobs using labour-intensive methods in key areas including aviation, agriculture, facility maintenance, housing, inter-ministerial and ministerial direct labour interventions.<\/p>\n

\u201cContinuation and enhancement of the pro-poor stimulus packages to the poor and vulnerable groups.<\/p>\n

\u201cEconomic diversification, environmental safety, wealth creation, food sufficiency, health and social security.\u201d<\/p>\n

In his remarks, the Speaker of the state House of Assembly, Mr Aniekan Bassey, assured the governor that the lawmakers would quicken the consideration process to ensure speedy passage of the 2022 budget estimate. nan.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ibom State Governor, Udom Emmanuel on Monday presented to the state House of Assembly a proposed budget of N582.115 billion for the 2022 Financial Year.\u00a0<\/p>\n","protected":false},"author":6,"featured_media":53360,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[8588],"coauthors":[2391],"class_list":["post-53359","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-akwa-ibom-state"],"yoast_head":"\nAkwa Ibom Budgets \u20a6582.12b For 2022 - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/akwa-ibom-budgets-\u20a6582-12b-for-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Akwa Ibom Budgets \u20a6582.12b For 2022 - 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