Gov. Umo Eno of Akwa Ibom has signed the 2024 appropriation bill of N849.97 billion into law.
Eno, who gave the assent during an expanded Executive Council meeting held at the Government House, Uyo, on Thursday, called for an increase in revenue generation effort.
The final budget size of N849.970 billion signed into law, as passed by the Akwa Ibom House of Assembly on Dec. 21, indicated an addition of N4.3 billion from the original sum of N845.63 billion presented by the governor.
The governor stressed the need to pay greater attention to the revenue generation in the 2024 fiscal year than spending.
“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.
“If you review what happened last year, we had the budget too and in previous years, but revenue is always the issue.
“So, while we sign this budget to show that we have approval, I think what will be most important for all of us is to make sure that we meet the revenue part of it,” he said.
Eno said his administration was putting a lot of strategy in place to up the state internally generated revenue to take care of the budget.
He urged the Ministry of Finance, Internal Revenue Service, Ethical and Attitudinal Reorientation Commission (EARCOM) and other agencies to step up effort in mobilising revenue for easy funding of the budget by encouraging people to pay taxes.
He commended the House of Assembly for their painstaking consideration of the bill and working in synergy with relevant departments of the executive arm to ensure thoroughness and timely passage.
Gov Eno signs N849.97bn budget into law
