…as MDA’s begin budget defence, Tuesday at AKHA
Chairman, Akwa Ibom State House of Assembly Committee on Appropriations and Finance, Hon. Dr. Itorobong Etim, has stated that the just concluded public hearing on the 2025 Appropriation bill conducted by her Committee is geared towards engendering good governance, accountability and transparency in the financial business of the State.
Hon. Etim who is also the lawmaker representing Uruan State Constituency in the House of Assembly, made the assertion, Monday 9th December, 2024, in Uyo while delivering her address on the occasion of the 2025 budget briefing and public hearing, held at the Assembly complex.
She further explained that the budget briefing/public hearing became necessary to afford the Executive arm the opportunity to present it’s scorecard to the people, and brief them on the journey so far on the Akwa Ibom project, while also offering a platform for members of the public to make inputs in the budgeting process for the overall goal of enhancing socio-economic development in the State.
In her words; “Today’s public hearing/briefing on the State 2025 Budget proposals shall afford the Executive arm the opportunity to present its score cards to the people and brief them on the journey so far on the Akwa Ibom project. Also, at this forum feedbacks from the people on performance indices and the way forward for our Budget process, would be received. All these will engender good governance, accountability, and transparency in the financial business of the State”.
“The main objective of the forum is to create full awareness of and also mobilize concerted actions on the 2025 Budget proposals of the state. It is equally aimed at providing the avenue where valuable inputs on the proposals are assembled and collated to enhance the overall socio-economic development of our State”.
“Section 121(1) of the constitution of the Federal Republic of Nigeria (as amended) provides that the Governor of the State shall cause to be prepared and laid before the House of Assembly at any time before the commencement of each financial year”.
“In compliance with this constitutional requirement, His Excellency, the Governor of Akwa Ibom State, Pastor Umo Bassey Eno,Ph.D on Tuesday, November 26, 2024 presented the 2025 State Budget proposals to the State House of Assembly via the Appropriation Bill. The billl went through the first and second readings on the same day, Tuesday, November 26, 2024 and was committed to the House Committee on Appropriations and Finance for legislative scrutiny and to report back to the House within three weeks. Mr. Speaker, Honourable Colleagues, Distinguished Guests, and other Stakeholders, Ladies and Gentlemen, it has become a common practice in democratic governance that Public Hearing be conducted on bills that affect the quality of life of the people. Also, Section 14(2)c of the 1999 Constitution of the Federal Republic of Nigeria (as amended) provides that participation of the people in their government should be ensured”.
Declaring the public hearing open, Speaker of the House of Assembly, Rt. Hon. Elder. Udeme Otong who reiterated the commitment of the 8th Assembly in partnering the Executive in the development of the State, commended stakeholders for attending the public hearing, saying their contributions and inputs would go a long way in giving Akwa Ibom people a quality budget that will be beneficial to all.
He praised the Appropriation and Finance Committee, headed by Dr. Itoro Etim for doing a good job.
The 2025 Budget recently presented by the Governor, Pastor Umo Bassey Eno, before the House of Assembly is christened ‘budget of consolidation and expansion’ with a budgetary outlay of N955.000 billion, predicated on an oil benchmark of US $ 75.00 per barrel at a production rate of 2.12 million barrels per day, with an estimated exchange rate of 81,400/US $ in line with the National Budget benchmark projections.
The policy thrust of the 2025 Budget is anchored on the ARISE Agenda of the present administration which covers: Agricultural Revolution, Rural Development, Infrastructural Maintenance and Expansion, Security Maintenance and Educational Advancement.
The Commissioner for Finance, Dr. Linus Nkan and his counterpart in the Ministry of Economic Development, Mr. Emem Almond Bob, made presentations on the milestones so attained by the government in the 2024 appropriation law, as well as projections for the 2025 fiscal year as contained in the budget proposal.
Other stakeholders who submitted inputs during the briefing include, representative of the State Attorney General and Commissioner for Justice, Chairman, Akwa Ibom State Council of the Nigeria Labour Congress, NLC, Comrade Sunny James, Director of Centre for Human Rights and Accountability Network, CHRAN, Comrade Franklyn Isong, among others.
Meanwhile, the House of Assembly Committee on Finance and Appropriations will from tomorrow, Tuesday 10th December, 2024 hold budget defence session at the Assembly complex, where Heads of Ministries, Department and Agencies of government, MDA’s are expected to defend estimates of their respective MDA’s.
