- The State hopes to fund the 2021 budget still using Federal revenues through the country’s Oil and Gas exports.
- The budget was planned based on assumptions that the Naira will exchange at N379 to US$1.
- The State Government hopes to earn at least N435 Billion to spend same in 2021.
- The Government hopes to continue spending heavily on the construction sector, budgeting almost 50% on capital expenditure alone.
- The State aims to spend 23% of the budget on administrative purposes with economic purposes being the only item to attract more funding than administration.
- The revised budget approved for the State Government for 2020 was N366 Billion.
The State Government tags this the Budget of Economic reconstruction. What projects will the Government immediately focus on? This is especially with the State having received a copy of Government Gazzette for the Free Trade Zone. The State Commissioner of Information and Strategy, Comrade Ini Ememobong announced this at the BPDI online investment event Stratagem 1.0 #AKSInvestmentChat.
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Keyword: Akwa Ibom State 2021 Budget