Budget proposal for 2017 fiscal year dominated discourse in the enlarged maiden Executive Council meeting presided over by Akwa Ibom State Governor, Mr Udom Emmanuel, at the Executive Council Chambers, Government House, Uyo.
Fielding questions from Government House Correspondents shortly after the meeting which lasted for five hours, the Commissioner for Information and Strategy, Mr Charles Udoh said “the council took time to review the performance of this years budget and also addressed the loss ends in the 2017 fiscal estimate taking in consideration the shortfall in the statutory allocation to states.”
The Information boss said that the fiscal estimate would be sent to the House of Assembly for appropriation and lauded the commitment of Governor Udom Emmanuel to his industrialization programme as well as investment in the Agro Allied sector of the economy to create wealth for sustainable development.
Also, the Commissioner for Finance Mr Nsikan Nkan said that the focus of the administration on industrialization under the PPP Module has been reflected in the Estimates adding that the Internally Generated Revenue would be beefed up to aid in the development programme.
On whether the shortfall in the statutory allocation would affect capital expenditure, the Finance Commissioner explained that Governor Emmanuel who is a prudent manager of resources would prioritise the expenditure based on N.E.E.D Assessment stressing that more capital projects are envisagd in the budget proposal.
Mr Nkan hinted that a strategic session would soon be held in the state to harness the various potentials to generate additional revenue.