Akwa Ibom Governor Urges Revenue Boost as N849.970 Billion Budget Raises Concerns

Akwa Ibom State Governor, Pastor Umo Eno, has signed the State’s Appropriation Bill of N849.970 billion for the 2024 fiscal year into law. This action, which took place during an enlarged State Executive Council meeting on Thursday, reflects an increase from the initial N845.632 billion budget presented to the State House of Assembly on November 21, 2023.

In a statement released to the press on Friday in Uyo, Governor Eno expressed his gratitude to the State Legislature for their meticulous consideration of the bill and their collaborative efforts with the Executive arm to ensure the budget’s thoroughness and timely passage. He emphasized the need to focus on revenue generation, stating that a significant budget like this must be supported by commensurate revenue to avoid financial strain, as experienced in previous years.

Governor Eno highlighted the importance of meeting revenue targets to facilitate effective budget implementation. He urged the Ministry of Finance, Internal Revenue Service, Ethical and Attitudinal Reorientation Commission (EARCOM), and other relevant agencies to intensify their efforts in revenue mobilization. Additionally, he announced the imminent operationalization of the State Geographic Information System (GIS) to enhance the tax base and improve revenue collection.

The governor’s emphasis on revenue generation underscores the state government’s commitment to fiscal responsibility and sustainable financial management. With the budget now signed into law, all eyes will be on the implementation phase and the state’s ability to meet its revenue targets to support the ambitious development plans outlined in the “ARISE Budget for Growth and Expansion.”

Source: Vanguard News