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    Gov. Emmanuel presents N651.5bn budget for 2018

    Gov. Udom Emmanuel of Akwa Ibom on Friday presented 2018 budget of N651.50 billion to the Akwa Ibom House of Assembly for consideration.
    The budget is higher than 2017 figure 0f N485.79 billion with N165.71 billion.
    The Appropriation Bill comprised N92.69 billion recurrent expenditure and N437.67 billion for capital expenditure while consolidated revenue stood at N120.86 billion.
    Emmanuel said that the total projected recurrent revenue for the year was N289 billion as against N188.50 billion estimated in 2017.
    He said that the Bill christened “Budget of Consolidation on Industrialisation” , was expected to drive the state government’s industrialisation policy to logical conclusion.
    The governor said that the preparation of the budget was guided by the International Public Sector Accounting Standard (IPSAS).
    According to him, the policy framework of 2018 budget is also predicated on developmental objectives.

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