“Why is the budget for 2024 4 billion Norwegian less?” - Finance Commissioner Ibom

[ad_1]

The Akwa Ibom State Treasurer, Dr. Linus Nkan, has given an insight into why the state’s 2024 budget is N4.368 billion (0.5%) less than the revised 2023 budget.

DAILY POST reports that Governor Umo Eno on Tuesday announced to the Akwa Ibom State House of Assembly the budget estimate for fiscal year 2024 of N845,632 million against the revised budget of N850 billion presented by the immediate past Governor Udom Emmanuel for 2023. I remember submitting it to.

Speaking to reporters in Uyo on Wednesday, the Finance Secretary admitted that this is the first time in history that the current year’s budget is lower than the previous year.

He said the governor had previously explained to state finance managers that he wanted a viable and achievable budget, not a sham budget.

He also unveiled the governor’s plan to reduce governance costs in 2024, reduce recurrent expenditures by implementing people-centered projects, and increase capital expenditures.

According to him, “When you look at the budget, you see that it is human-centered. When we give him (the governor) a budget to consider, he comes back and says we should consider it item by item.” “We have confirmed that the budget is not as bogus as it used to be. It is clear, purposeful and very realistic. The economic sector makes up the bulk of the budget.”

He added: “The Governor is working to reduce the cost of governance by promoting fiscal transparency, accountability and strengthening public procurement.”

[ad_2]

Source: dailypost.ng

Leave a Reply

Your email address will not be published. Required fields are marked *