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Udom Emmanuel presents N365bn budget, says ‘in recession, Akwa Ibom is experiencing a lifting up’

Udom Emmanuel presents N365bn budget, says ‘in recession, Akwa Ibom is experiencing a lifting up’
December 23
08:38 2016

Udom Emmanuel, Akwa Ibom state governor, says the state is experiencing a lifting up, when Nigeria is experiencing a casting down.

Emmanuel said this while presenting a N365 billion budget for the 2017 fiscal year, before the state assembly.

He said the budget would be useless without committing it to the hands of God.

“I am not unaware that we live in a time of extreme economic challenges occasioned by the recession our nation is currently grappling with,” he said.


“But the anchor of the expectation with which I come to you today is based on the immortal words in the Holy book that assures us that when men shall say there is a casting down our testimony shall be that there is a lifting up.

“Let us therefore draw strength from the compelling story in the Bible about the first crisis in the kingdom of Israel that occurred due to the death of Saul. It references the men of Issachar as men who had an understanding of the times and knew what Israel ought to do.

“I am happy today because we, like the men of Issachar, have an understanding of the times we live in and we know what Akwa Ibom state ought to do.


“Bearing this in mind, what I have come to present to you today, is not only a budget but an economic plan and socio-political blueprint for actualizing our dream of a greater and more prosperous Akwa Ibom State.”

He said the budget, which is a budget a consolidation, is predicated on an oil price of $35 per barrel, and a production capacity of 1 million barrels per day.

Worthy of note also is the fact that the recurrent expenditure for the state was put at N88.425 billion, while capital expenditure N193.956 billion.

The budget has a focus on consolidating the economy of the state, with over N128 billion dedicated to the economy.


Other aspects held with high premium include; education, judiciary, social sector, and administration.

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