07/11/2022
BEING THE ADDRESS BY HIS EXCELLENCY, MR. UDOM EMMANUEL, GOVERNOR, AKWA IBOM STATE ON THE OCCASION OF PRESENTATION OF THE 2023 BUDGET PROPOSALS TO AKWA IBOM STATE HOUSE OF ASSEMBLY, UYO
PROTOCOL
Mr. Speaker and Honorable Members
INTRODUCTION
As tradition demands, and in fulfillment of my Constitutional responsibility, I am honored to be here again today, in this Hallowed Chamber to present the Estimates of Revenue and Expenditure for the Fiscal Year 2023.
Before I proceed to present my speech, let me place on record my sincere gratitude and appreciation for the great partnership we have forged in the last seven and half years, all, in the service of our dear State and our people.
Let me thank the 6th Assembly for the outstanding work they did, especially the former Speaker, Rt. Honorable Onofiok Luke, now our Representative at the National Assembly for Etinan Federal Constituency and indeed all the Honorable Members of that Assembly.
That we have been able to rewrite the Akwa Ibom story and record spectacular achievements that the nation today is celebrating, is because of the unflinching support and cooperation we received during those foundational phases of our administration from the 6th Assembly.
Mr. Speaker and our Honorable members, in the last three and half years, the 7th Assembly under your leadership has been rock-solid in your support and cooperation with the Executive Arm of Government. We have enjoyed robust working relationship, cooperated on the critical issues germane to the development and growth of our dear State, and I want to place again on record, my sincere gratitude to this Honorable House.
We came to serve the people of this State and we have done exactly that! There have been no contentious turf - issues; there has been no unnecessary bickering or political grandstanding, ours have been cooperation in the service of our dear State, without losing the dividing line as stipulated in the Principles of Separation of Powers.
Even when we have some differences which is expected, we have always resolved those issues without the resort to zero-sum game machinations.
I know we can depend on you as we begin the winding process of what has been a great and consequential stewardship of our State.
Mr. Speaker, and the Honorable Members, this is a little emotional for me, because this is the last time I will appear before you as the Governor, of this God’s own Piece of Real Estate. By this time, next year, a new Governor, our own God’s Own Choice, will by His grace stand before you to perform this critical task.
For partnering with me and the Executive Arm of Government for the past seven and half years, to straighten, facilitate and fast-track the realization of Akwa Ibom Project, in harmony, in concord and amity, I say, Thank you.
History will record your place in the pantheon of our State’s growth, the seeds of economic prosperity and the fountains of development you have helped plant and turned on, will continue to blossom and bear sustainable fruits for our people and our dear State. God bless you all.
Let me also thank the great and wonderful people of our dear State, the Fathers in Faith, the youths, the Diasporans, and others who have come here to live and work. I want to thank you for your kind prayers, your words of encouragement and even your constructive criticism.
To our critics and naysayers, I hope you will someday come to appreciate what we have started here; the huge investments for tomorrow we have put in place, the mind-shift we have engendered through Dakkada, and the strategic application of lean resources to achieve the most for the people and the State.
Mr. Speaker and Honorable Members, my Administration came on board with the initial Five Points Agenda (Job Creation, Poverty Alleviation, Wealth Creation, Economic and Political Inclusion, and Infrastructural Consolidation and Expansion) with a view to changing the narrative of Akwa Ibom Sate economy.
In my Second Term, the Five Point Agenda was further re-strategized to the current Eight (8) Point Completion Agenda (Industrialization, Aviation Development, Security, Infrastructure, Small and Medium Scale Enterprises, Human Capacity Development, Agriculture, and Rural Riverine Area Development) to change the fortunes of our people, even further.
Mr. Speaker and Honorable Members, permit me, to, without sounding boastful, proclaim to this House that the goals and objectives of my Economic and growth Agenda have been achieved. A prominent son of our State recently declared that, in his estimation, he would give us a scorecard of 90 percent, not minding that he belongs to different political persuasion. I would agree with his unvarnished assertion.
This State is witnessing rapid industrialization and infrastructural renaissance with an economic growth rate of more than 5%. Achievements of this magnitude could not have been possible without the Invisible /Hands of the Almighty God. To Him alone, be all the glory!
I came to lift our State through the tripod of development: Land, Air and Sea so as to jump-start our drive to industrialize our State. I think we have achieved so much in that area. Today, there are over 25 fully functional industries, providing employment opportunities, creating wealth through value chain. The narrative of our State has been changed from a purely civil service oriented State, to a fast industrializing entity.
The Jubilee Syringes, which is the largest in Africa, has become a roaring success. Today, we can’t meet the demands of syringes, despite producing at full capacity. The Flour Mill, the most automated in the Niger Delta today is a testament to vision. You need to go to that factory to see the volume of business that is going on there, to appreciate what we have done. Thousands of people have been employed and distributors are smiling their way to the bank.
The St. Gabriel Coconut Refinery is a testament to vision and creativity. When the world moves away from oil to other means to power their economy, future generations of Akwa Ibomites will remember that a leader blessed with vision saw beyond what others saw and positioned us for a life after oil.
The Mimshac car manufacturing plant, will soon commence the assembling and manufacturing of buses and other automobiles.
Our industrial clusters today produce such utility items as tissue papers, plastics, pencils among others.
Today, our State has about the best road network of any sub national in the country. Our State is easily linked seamlessly across senatorial districts for ease of movement of goods and services. In the course of our 35th Anniversary, we commissioned a number of legacy road projects including the 10-Lane Idongesit Nkanga/Clement Isong Avenue, with water fountains, a testament to the ingenuity of our local contractor. We commissioned the 29 kilometer dualized Etinan-Ndon Eyo road complete with two cable bridges, a beauty to behold. We commissioned the 12 km Secretariat Road, Uliong Edikor Udetta Road with spur, the first of such roads in Udung Uko Local Government Area, the Nung Ukim – Ikono Akpa Etok Nung Ukim Ikot Ekpang Road in Ikono Local Government area, several internal roads in Uyo Metropolis among others. The 8-Lane airport expansion road is ongoing and will be commissioned soon.
We had earlier commissioned the Uyo-Ikot Ekpene Road, which we met at less than three kilometers of work done, the longest flyover in the Niger Delta, the 1km Ikot Oku Ikono Flyover and several other road projects across the ten Federal Constituencies that time and space will not permit me to list them all, but are there for everyone to see.
To address the perennial flooding situation in the State, we had earlier in the life of this administration, tackled the erosion menace that had for decades rendered Nsikak Eduok Avenue impassable. We sunk in billions of naira to address that problem and today, there are no more flooding on that critical avenue.
In the lead-up to our State’s 35th Anniversary, we had commissioned the IBB Flood Control project with assistance from the World Bank. We are grateful for the numerous messages of appreciation from our people for tackling a major problem that had affected our Secretariat Road and so many other communities across several Local Government Areas close to our State capital.
We had also, tackled other erosion and gully menaces in the State in the course of the last 7years plus in the State.
Today, the 21-Storey Dakkada Towers stand tall as a signpost to our determination to attract further local and foreign investments and provide for them to lease, befitting office accommodation, that is as intelligent and modern as any such anywhere. We are glad to announce that numerous organizations especially those in the oil and gas industry have taken advantage of the glittering tower and have signed leases with the State government.
In Aviation development, today, Ibom Air, the first commercial airline ever owned by a sub national has become a huge success. It is Nigeria’s most preferred airline with a fleet of seven aircrafts, including two Airbus A220-300 Series. Plans are at advanced stages to add ten more brand new Airbuses to increase the fleet to 17.
Our Maintenance, Repair and Overhaul (MRO.) is at 95 percent ready and we hope to commission this economically viable project before the end of this administration. You have all seen the advanced work that is going on at our International Terminal at the Victor Attah International Airport. This terminal which we also hope to commission before the end of this administration will be the most intelligent and smartest of any such terminals in Nigeria and indeed in Africa. Our Taxiway is also scheduled for commissioning in the coming months.
We have invested huge resources in our healthcare delivery services and have kept our campaign promise to build, remodel, and equip with modern amenities, secondary health care facilities, such as general hospitals in all the ten Federal Constituencies. During the celebrations for our State’s 35th Anniversary, we commissioned the General Hospital in Ikot Abasi, complete with world –class medical equipment and facilities. We had earlier in the life of this administration, commissioned General Hospitals in Iquita, Oron, Etinan, Ikot Okoro, ONNA, Emmanuel Hospital, Ituk Mbang, Ikot Ekpene etc. We hope to commission the ones in Ibiono and others before we leave office next year.
During the Covid 19-pandemic, we successfully built and equipped with two PNR laboratories, the Infectious Diseases Control Centre at Ituk Mbang, complete with the largest oxygen plant in the nation. Our Intensive Care Unit, (ICU) at the Ibom Specialist Hospital is considered one of the most advanced in the nation. Our medical professionals are constantly exposed to trainings to bring them up to speed with modern realities in healthcare management.
In the area of education and human capacity we have through Inter-ministerial Direct Labor Coordinating Committee in conjunction with SUBEB, built over 4 thousand classroom blocks and equip them with facilities to enhance the environment of learning for our children.
Education remains free up to secondary school level, and we are still paying WAEC fees of over 700 million Naira for our indigent students.
We have employed one thousand teachers to beef up our secondary school staffing needs and another one thousand for our primary schools.
Over three thousand of our youths have been trained in various skills and our skills acquisition centre at Ikot Ada Idem is posed to train even more, so we would have skilled manpower to man key positions in the industries we have attracted and those to come. We are determined to ensure that our students are competitive and prepared to face the ICT defined world and the opportunities that abound. We are developing their entrepreneurial skills as well.
In agriculture sector, we have ensured that our staple food items are made available and at affordable prices for our people. The Agricon Rice in Ini Local Government Area, the numerous garri processing plants have helped reduce the price of some of these staple food items. Through Green House technology, we are able to produce such needed farm produce as tomatoes, onions, cucumber among others.
We have given free of cassava stems, fertilizers and of course, the interest free loans from IBOM FADAMA MICROFINANCE BANK. The long moribund Akwa Palms plantation in Esit Ekit has been resuscitated. Two weeks ago we embarked in the second edition of the planting of coconut to feed our virgin coconut refinery.
In the power sector, we have rebuilt several substations and the Ibom Power Plant today generates over 155 megawatts of electricity. We had promised power for all, and today, I am proud to say that out of the 2,274 gazetted villages in our State, only less than five percent are yet to be hooked to the national grid, and we are working hard to ensure that those villages are hooked before we leave office next year.
You may have seen the marked improvements in the hours of electricity we enjoyed. This is as a result of the resources we have sunk into that sector.
In sports and tourism, our State still remains the destination of choice for most Nigerians. Today we enjoy almost full hotel occupancy across the Uyo metropolis. Our football teams are doing great in the national league, and we have won two national trophies in the life of this administration in football.
We had commissioned the Eket International Stadium, an 18-thousand Seater masterpiece and our dream is to catch young talents early and expose them to the best facilities that would help them hone their skills.
We have opened up the rural and riverine areas and constructed numerous feeders roads, aimed at stemming rural-urban migration.
Let me use this opportunity to thank our security agencies for pioneering with us to have a State that is being adjudged as one of the safest in the nation. We couldn’t have achieved this huge milestone without your cooperation.
Permit me also to thank our resourceful youths who, themselves, have decided to take ownership of the peace and tranquility we enjoy and have worked to safeguard it. I know the incoming administration can count on you to continue to protect, safeguard and maintain the peace.
We have worked this far together, and I know you stand ready to work with us, in the coming months to deliver more growth for our State and our dear people.
Let me begin by thanking the House for approving the 2023-2025 Medium Term Expenditure Framework (MTEF) to allow the full commencement of 2023 budget process.
SOCIAL INVESTMENT AND POVERTY ALLEVIATION PROGRAMMES:
Mr. Speaker, within the remaining part of the year 2022, the State Government will implement the following under pro-poor expenditure programme:
i. 12 months Social Transfer Scheme –This will capture 1,950 beneficiaries who will receive ₦10,000 per month.
ii. Labour-Intensive Public Workfare Scheme – This will capture additional 1,560 indigenes engaged to perform menial works with a monthly stipend of ₦10,000 each. This will last over a long period of time.
iii. Livelihood Grant Scheme – This will capture 975 indigenes for short livelihood support accompanied with soft skills training and one off – payment not less than ₦190,000each and is targeted at self-employed youths of Akwa Ibom State.
iv. Foods Availability Scheme – Through FADAMA, about 6,964 farmers in the State will be provided with modern agricultural inputs and services. Additional 5,735 farmers in the State will access improved agricultural infrastructure such as construction or rehabilitation of canals, Roads and Warehouses while 8,125 farmers will access Agric assets to step up agricultural production and small-scale food processing. This will be followed by upgrading of 78 No. Wet markets with water and sanitation facilities.
v. Small and Medium Enterprises (SMEs) Scheme - about 14,000 SMEs in the State will be captured for a grant of ₦100,000 - ₦150,000 to incentivize employment retention following several bouts of economy (Covid – 19) lockdowns that affected Small and Medium Scale businesses in the State. Please all citizens should avail themselves of these opportunities. The Honourable Commissioner for Economic Development will give more details on the implementation modalities.
REVIEW OF THE PERFORMANCE OF 2022 BUDGET
Mr. Speaker, a total of ₦631.881 billion was approved for 2022 Fiscal Year with a total recurrent expenditure of ₦302.963 billion and the capital votes of ₦328.918 billion. The breakdown is as follows:
i) Recurrent Expenditure - ₦302.963
ii) Capital Expenditure - ₦328.918
TOTAL - ₦631.881
As at September, 2022, the total recurrent revenue collected was N211.066 billion representing 92.6% of the prorated approved provision for the period (January – September). The sum of N132.796 billion was realized from other capital Receipts excluding recurrent surplus. This represents 53.9% of the prorated approved provision for the period.
In-reappraising expenditure, a total of N152.852 billion was spent on Recurrent Services representing 67.3% of the prorated provision for the period.
A total of N134.638 billion was spent on Capital programmes within the same period which represents 54.6% of the prorated provision for the period. Our Capital Budget Expenditure is described in Details in the Budget Implementation Report, which has been prepared to facilitate your consideration of the Draft 2023 Budget.
Operating within the framework of the approved revised budget and the limits of available resources, we have been able to record remarkable achievements in our industrialization drive, in health care delivery, aviation development, agriculture, education, road infrastructure and others etc. we have consolidated on the gains of democratic governance and expanded the frontiers of development across all sectors.
THE 2023 BUDGET
Mr. Speaker and Honourable Members, the 2023 Budget is prepared in accordance with International Public Sector Accounting Standards (IPSAS) Accrual template. Our intention is to roll out a manageable budget size that will help in closing the gap between the budgeted figures and the actual figures. In the course of preparing the year 2023 budget efficient costing tools such as Cost Benefit Analysis, Cost Effectiveness Analysis and Elasticity Methods including Moving Averages were deployed.
Mr. Speaker and Honourable Members, the 2022 Budget was christened the “Budget of Re-defining Standards”. Our intention here was to take stock of our achievements in the past six and half years and consolidate the gains of our achievements thus far, for sustainable expansion and growth.
Mr. Speaker and Honourable Members, by the grace of God, this administration has completed many projects it met uncompleted and new ones it also started, we hope to complete all ongoing projects we initiated before final exit of this administration on May, 2023. To this end, and taking into cognizance the fact that a new administration will come into power for the same goal of good governance and effective projects actualization, the 2023 Budget is christened, “Budget of Completion”.
POLICY OBJECTIVES OF 2023 BUDGET
Mr. Speaker, the Policy Objectives of the 2023 Budget include:
1. Stimulating the State’s economy and create opportunities of gainful employment through Industrialization, Agriculture including Air and Sea infrastructure.
2. Sustained growth through Rapid Industrialization and Job Creation, infrastructural investments, Roads, Sports, Tourism, Solar Power, Communication Technologies Aviation and Sea infrastructure.
3. Continued support for Small and Medium Scale Enterprises (SMEs) as the engine of our economy to encourage local capability in manufacturing and the use of our locally made products for domestic use exports.
4. Create jobs using labor intensive methods in key areas such as Agriculture, Housing, Inter-ministerial and Ministerial Direct Labor intervention, etc.
5. Amelioration of poverty among the vulnerable groups in our society including women, and people living with disabilities through pro-poor spending.
6. Economy Diversification to create more wealth, sustainable employment and food sufficiency.
7. Health and environmental safety to maintain a healthy population and also mitigate the adverse effect of climate change.
8. Pursue morally, culturally and technologically-based education to ensure that our human capital competes with their peers globally.
POLICY THRUST OF 2023 BUDGET
Mr. Speaker, the policy thrust of the 2023 Budget will focus on consolidating the gains of the 8-Point Completion Agenda and these include: Industrialization, Education, Aviation Development, Rural and Riverine Area Development, Agriculture, Small and Medium Scale Enterprises, Infrastructure Expansion and Consolidation, Security and Human Capacity Development.
This is also to ensure inclusiveness in terms of employment, wealth creation, safe and habitable environment, productive welfare packages for the indigenes and improved service delivery in all aspects of government activities.
HIGHLIGHTS OF THE 2023 BUDGET
The 2023 Budget is predicated on an oil benchmark of $70 per barrel at a production rate of 1.69 million barrels per day with an estimated exchange rate of ₦435.57/US$, in line with the National Budget benchmark projections.
The National GDP has been projected at 3.75 % growth rate with National inflation rate of 17.16 %. It is important to note also that the State inflation figure is below the national average. This is due to the State Government’s persistent intervention measures in the agriculture subsector to halt and reverse the rising cost of food commodities in Akwa Ibom State.
THE 2023 BUDGET SIZE
Government has proposed a total budgetary outlay of N 697.005 billion for the 2023 Financial Year as against the approved revised provision of N631.881 of 2022 representing an increase of 10% from the 2022 revised budget.
This is made up of:
Recurrent Expenditure - N344.005 billion
Capital Expenditure - ₦353.000 billion
Total - ₦697.005 billion
STATE GOVERNMENT REVENUE ESTIMATES
The total projected Recurrent Revenue for 2023 is estimated at ₦390.850 billion as against the approved revised provision of ₦303.854 billion representing 29% increase in revenue projection for the year 2023.
The breakdown is as follows:
Internally Generated Revenue (IGR) - ₦47.850 billion
Statutory Revenue - ₦51.000 billion
Derivation Revenue - ₦200.000 billion
Exchange Gain, Augmentation and others - ₦40.000 billion
Excess Crude - ₦10.000 billion
Electronic Money Transfer Levy - ₦12.000 billion
Value Added Tax (VAT) - ₦30.000 billion
Total - ₦390.850 billion
RECURRENT EXPENDITURE
For the 2023 Fiscal Year, Recurrent Expenditure which is proposed at ₦344.005 billion is made up of:
i.) Personnel Cost - ₦80.050 billion
ii.) Overhead Cost - ₦157.954 billion
iii.) Social contribution & Benefit - ₦31.500 billion
iv.) Grant, Contribution & Subsidies - ₦1.500 billion
v.) Public Debt Service - ₦73.000 billion
Total Recurrent Expenditure - ₦344.005 billion
CAPITAL EXPENDITURE
The total Capital Receipts and Expenditure for the year 2023 is estimated at N353.000billion as against the approved revised provision of N328.918billion for 2022. A total projected Capital Receipts shows that N46.845 billion will be transferred from the Consolidated Revenue Fund, while the balance of N306.155 billion is to be realized as follows:
i.) Opening Balance from 2022 account - ₦40.000 billion
ii.) Direct Credit Substitute/Receivable Discounting Facility - ₦134.108billion
iii.) External Bank Loan - ₦4.000 billion
iv.) Grants - ₦15.797 billion
v.) Ecological Fund - ₦5.000 billion
vi.) Reimbursement from Federal Govt. on Roads - ₦5.000 billion
vii.) Investment Income - ₦0.250 billion
viii.) Other exceptional Income - ₦100.000 billion
ix.) Stabilization Account - ₦2.000 billion
Total - ₦306.155 billion
SECTORAL ALLOCATION
The sectoral allocation of the total budget outlay of N697.005 billion for the year 2023 is presented as follows:
S/NO. SECTOR ALLOCATION
N (Billion) PERCENTAGE OF ALLOCATION (%)
1 Administration 149.282 21.4
2 Economic 443.337 63.6
3 Law and Justice 12.056 1.7
4 Regional 0.441 0.1
5 Social 91.888 13.2
Total 697.004 100.00
EDUCATION
The education sector is central to the actualization of the completion and transformation agenda. In order to produce people with the right skills to drive all sectors of the economy, the present administration will continue to place high priority on the provision of Free, Qualitative and Compulsory education at the primary and secondary levels. This is to ensure that every citizen is able to write and read, empowered to take active part in our political process and decide for themselves the future they desire. As a State, we have henceforth resolve to pursue a morally, culturally and technologically-based education i.e. if we want our education to contribute meaningfully to nation building including our homes and households. The sum of N50.644 billion has been budgeted to boost this sector.
HEALTH
The State government will continue to develop and implement policies, programmes, as well as undertake other necessary actions that will further strengthen the State health care delivery system to deliver effective, accessible, efficient, affordable and people-friendly health services in 2023. The State Health Insurance Scheme (SHIS) will be established to ensure a robust access to health care services and to maintain a healthy population in the State for increased productivity. At this point, I will like to thank the State Ministry of Health for their efforts in curtailing the outbreak of COVID-19 in the State. That was very encouraging and let me further task the Ministry to fortify the State against the outbreak of Monkey Pox and other diseases. The sum of N30.492 billion has been earmarked for this sector.
SECURITY
We will continue to maintain at all costs the peaceful and secured environment where lives and properties are safe and secured to create enabling and conducive atmosphere for investment, recreation and tourism, thus boost the productivity of our economy.
THE PUBLIC SERVICE
The Public Service is the fulcrum upon which government policies and programmes are implemented; it therefore requires keen attention to make it work optimally. To this end; in 2023, Government will continue to ensure that the welfare of our workers and retirees remain a priority of government. Appropriate training and retraining in line with extant rules on human capacity development will be pursued to meet the present-day challenges of the system. At appropriate time, we will continue to give car loans to deserving staff with cash reward for diligent officers in the service.
AGRICULTURE
Agriculture is a sub-sector that plays a critical and important role in the socio-economic and industrial development of Akwa Ibom State. The present administration places premium on the growth and development of the sub-sector to enhance food security and raw materials for industrial use and exports, job and wealth creation as well as improved revenue generation to the government. In 2023 we intend to invest heavily on this sector. To realize this aspiration, the sum of N14.129 billion has been budgeted for this sector.
YOUTH, SPORT AND TOURISM
In the year 2023, Government intends to consolidate the gains so far achieved by vigorously pursuing all the programmes, complete on-going projects, implement routine activities, as well as introducing new programmes to promote youth and sports development in the State. We will also promote cultural and sports tourism to engage our youths effectively and optimally and develop more talents.
INFRASTRUCTURE
Our infrastructural renaissance will continue to receive critical attention. I have always said, for Industrialization to take its roots, we must invest heavily in Land, Air and Sea infrastructure. You will agree with me that we have achieved a lot in these subsectors as can be seen from the economically viable dualized roads we have constructed throughout the three senatorial districts. We will ensure that we complete all critical infrastructure projects as contained and outlined in the completion Agenda.
RURAL DEVELOPMENT
We will continue to drive the development of our rural and riverine areas so as to reduce the rural-urban migration through the provision of electricity, feeder roads and the promotion of large-scale farming, establishment of community cassava and palm oil mills to provide employment for the rural dwellers.
2023 BUDGET IMPLEMENTATION STRATEGIES
To realize the year 2023 Budget objectives, the following strategies shall be adopted by the State Government:
* Partner with foreign investors to invest in the relevant and key sectors of the State economy and undertake robust human capital development.
* Widen the industrial base of the State through rapid industrialization and investment activities by providing enabling environment for the private sector to thrive. This is to enhance the availability of goods and services for domestic use as well as for export.
* Achieving at least 10% increase in IGR by eliminating evasion in payment, wastages and leakages in collection and expenditure and developing tourism potentials.
* Stimulate the Agricultural and Agro-allied industries to boost production of local farmers to ensure food sufficiency for local consumption, exports as well as the provision of raw materials for the industries.
* Expand and improve infrastructure and services in Health-Care Delivery at Primary and Secondary levels and to safeguard the State against any further public health emergencies after COVID-19 pandemic.
* Improve service delivery in the Education sector, with emphasis on culturally, morally and technologically based education.
* Continue to empower women and youth through capacity building, empowerment, skill acquisition and elimination of gender discrimination practices.
* Enhance delivery of qualitative and prompt service by public servants, through effective intra and inter MDAs collaboration.
* Provide recreational and sporting facilities to increase life expectancy, boost sports development and ensure improved performance of the State representatives at Local, National and International sporting competitions.
* Strengthen performance monitoring mechanism with central coordinating unit at the Ministry of Economic Development.
* Improve fiscal transparency and accountability in all MDAs with emphasis on cost effectiveness in all programs and projects of government.
* Adopt the principles of cost minimization and waste reduction in all government expenditure.
* Promotion of cultural and sports tourism to earn more foreign exchange for Akwa Ibom State.
CONCLUSION
Mr. Speaker and Honourable Members, thank you for your kind attention. Let me pause and celebrate God’s goodness and mercies to us as a people and as a State. It is by His mercies that we have achieved all that we have enumerated despite our lean resources and challenging macroeconomic environment. It is by His mercies that we have stepped into this era of superior performance. It is by His mercies that this Budget of Completion” will be judiciously implemented to achieve the lofty ideals of our forebears.
I therefore, appeal for your approval on my submissions and your support for its implementation. We promise a faithful implementation of this “Budget of Completion” for the general good of our people. Our resolve to alleviate poverty and restore hope, create wealth, generate employment, stimulate agriculture and industrial development and uplift the overall welfare of our people remains unflinching.
I beseech you therefore, to expeditiously consider and approve the 2023 Budget proposals, as the relevant details will be provided by the Hon. Commissioner for Finance.
Finally, let me once again thank the Speaker and the Honourable Members of this House and the good people of Akwa Ibom State for the tremendous goodwill and overwhelming support extended to my Administration. I will always remain eternally grateful to the Almighty God for this opportunity granted me to serve of this State, and to add my own quota to the growth, development, expansion, peace, unity and a sense of identity to our people.
Thank you and God bless. Akwa Ibom Dakkada, Ami Mmedakkada.
