The Akwa Ibom House of Assembly on Thursday passed the amended 2020 budget from initial N597.7 billion to N366 billion to meet with the...
The Akwa Ibom House of Assembly on Thursday passed the amended 2020 budget from initial N597.7 billion to N366 billion to meet with the economic challenges arising from Coronavirus pandemic
Briefing newsmen after the plenary, Mr Uduak Ududoh, Chairman, House Committee on Appropriation and Finance, said the recurrent expenditure as approved for 2020 budget, which stood at N111.22 billion had been reviewed downward to N98.22 billion. According to Ududoh, the total budget approved in 2020 which was N597.7 billion has now been reduced to N366 billion for the 2020 fiscal year, representing 38.8 per cent reduction.The Speaker, Mr Aniekan Bassey, who presided over the plenary, said that the step taken by the governor to review the 2020 budget downward was very timely to brace up with the economic recession experienced all over the world.
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