By Idongesit Ikono
The Akwa Ibom state government has presented a 2022 budget estimate of N582.115b a decrease from the 2021 revised budget of N598.975 .
Governor Udom Emmanuel made the presentation to the House of Assembly in Uyo the Akwa Ibom State capital.
While presenting the 2022 budget estimates christened ” Budget of Redefining Standards, Governor Udom Emmanuel said the intention is to roll out a manageable budget size that will help in closing the gap between the budgeted figures and the actual figures.
The estimates have recurrent expenditure of N260.151b and capital expenditure at N321.964b.
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In his remarks, Speaker of the Assembly, Aniekan Bassey, appreciated the governor for the encouraging performance of the 2021 budget and was optimistic that the 2022 budget will perform even better.
The 2022 Budget is 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 ₦410.15 per US dollar in line with the National Budget benchmark projections.
(Editor : Paul Akhagbemhe)
