Akwa Ibom 2023 budget of completion | The Guardian Nigeria News - Nigeria and World News

At the Federal level, it is presented by the President before a joint session of the Senate and House of Representatives while at the state level, it is presented by the governor before the House of Assembly, which is headed by a Speaker. In Nigeria, it is usually presented before the legislature as an appropriation bill, before the 12 month calendar year runs out.

He stated some achievements of the administration to include the creation of 25 industries in the state such as Jubilee Syringe Factory, Flour Mills, St. Gabriel Refinery and the others which have employed thousands of people in the state. Furthermore, he stated that a car manufacturing plant will soon commence operations despite the foreign exchange challenges the nation is facing.

For the recurrent expenditure of N344.005 billion, it is made up of N80.05 billion for personnel cost, N157.954 billion for overhead cost, N31.5 billion for social contributions and benefits, and N1.5 billion for grants, contributions and subsidies. The expenditure earmarked for servicing public service debt is N73 billion. Furthermore, as against the approved revised provision of N328.

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