23rd December, 2016
The Akwa Ibom Government says it will spend N94.8 billion or 26 per cent of its N365.2 billion budget for 2017 on roads, works and transport sectors.
The state governor, Mr. Udom Emmanuel, disclosed this on Thursday in Uyo while presenting the 2017 budget proposal before the state House of Assembly.
Emmanuel explained that road and transport infrastructure were necessary to boost economic activities in the state.
The governor said that the state government would draw up Akwa Ibom Road Master Plan in 2017 for effective and efficient transport operations in the state.
“In 2017, the transport sector intends to provide road signs within and outside the state capital.
He announced the commencement of ferry service from Ibom Le Meridien in Uyo to Tinapa in Calabar and the reactivation of Oron-Calabar ferry service to boost tourism in 2017.
The News Agency of Nigeria (NAN) reports that the 2017 budget proposal provided N194 billion for capital projects, N88.4 billion for recurrent expenditure while consolidated revenue would account for N82. 9 billion.
Emmanuel noted that the 2017 budget was N58 billion or 13.7 per cent lesser than the N423billion budgeted for the 2016 fiscal year.
He said that N16 billion was allocated to lands and housing; education, N8.6 billion; agriculture, N6.8 billion; culture and tourism, N700 million.
Emmanuel said the 2017 budget, christened “Budget of Consolidation”, was aimed at expanding economic activities as well as promoting industrialization in the state.
The governor said that the budget would also focus on the promotion of trade, commerce and tourism between Akwa Ibom and the rest of the world.