The Governor of Akwa Ibom State, Umo Eno has given his approval to the 2024 appropriation bill, signing into law a budget of N849.97 billion.
The signing took place during an expanded Executive Council meeting at the Government House in Uyo on Thursday.
The Governor emphasized the importance of increasing efforts in revenue generation.
The final budget size, approved after being passed by the Akwa Ibom House of Assembly on December 21, saw an addition of N4.3 billion from the original sum of N845.63 billion initially presented by the governor.
Addressing the need for a more focused approach to revenue generation in the upcoming fiscal year, Eno stated, “In signing this budget today, my priority will be on revenue. How do we get to bring in the revenue? Because there is no point having a budget this big when the revenue is not commensurate.”
Reflecting on previous years, the governor highlighted the consistent challenge of revenue generation despite budget allocations.
He urged a collective effort to ensure that the revenue component of the budget is met.
Eno disclosed that his administration is implementing various strategies to boost the state’s internally generated revenue to adequately cater to budgetary needs.
He specifically called upon the Ministry of Finance, Internal Revenue Service, Ethical and Attitudinal Reorientation Commission, and other relevant agencies to intensify their efforts in mobilizing revenue.
Encouraging citizens to fulfill their tax obligations, Eno stressed the importance of proactive measures in revenue collection.
He applauded the House of Assembly for their meticulous consideration of the bill, working collaboratively with relevant executive departments to ensure a thorough and timely passage.
