Akwa Ibom House of Assembly passed the state’s N700 billion 2023 budget into law on Thursday in Uyo.
The budget is made up of N344.005 billion recurrent expenditure and N355.995 billion capital expenditure.
The House increased the Executive’s proposal by 0.4 per cent, following a report by the Chairman, Committee on Finance and Appropriation, Mr Uduak Odudoh.
Gov. Udom Emmanuel proposed a budget of N697.005 billion on Nov. 7 for consideration by the House of Assembly.
The House urged the Executive arm to ensure prompt and commensurate release of funds to ministries and agencies for the execution of projects and programmes in the budget.
The Speaker, Mr Aniekan Bassey, in his remarks, commended the House Committee on Finance and Appropriation for the quick passage of the budget.
He said the Assembly would continue to build a robust and impactful relationship with other arms of government to foster development and growth in the state.
Bassey commended ministries and government agencies that defended their budgets.
Meanwhile, the House adjourned its plenary session to reconvene on Jan. 5, 2023.