Akwa Ibom Proposes 492bn Budget for 2015 Fiscal Year

The Akwa Ibom state government has proposed a total of N492 billion draft budget for 2015 fiscal year.The Commissioner for Finance, Akan Okon made this knownon Tuesdayat the executive chambers of Governors Office said, members of the state Executive Council presided over by the state Governor, Chief Godswill Akpabio, approved the draft budget.Okon said the state government was committed to the completion of such flagship projects as Tropicana Entertainment Centre, roads, specialist hospital and four-point Sheraton Hotel, Ikot Ekpene, among others.The amount which was against N498.5 billion for 2014, showed that Capital Expenditure is given N268 billion against N336 billion for last year while Recurrent Expenditure has N94.7 billion against N74.2 billion for last year.The Commissioner for Finance, who attributed the increase in recurrent expenditure for next year to the employment of additional 5,000 teachers and more civil servants, lauded the state governor for his vision in embarking on and completing the key projects, hoping the next administration would sustain the projects.
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