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A'IBOM ASSEMBLY PASSES N14.9BN SUPPLEMENTARY BUDGET

By NBF News

AS part of efforts to combat the spate of kidnapping and to compensate displaced traders at the Uyo Main Market, the Akwa Ibom State House of Assembly on Thursday passed a supplementary budget.

The passage of the supplementary budget had increased the size of the state's budget from N298.5bn to a revised total budget size of N313.4bn. The approval of the N14.9bn budget also means a five per cent increase in the total budget size for the remaining fiscal year.

The Chairman, House Committee on Appropriation and Finance, Mr. Samuel Ikon, explained that, out of the N14.9bn, N3.5bn was for the provision of special security equipment and vehicles.

Ikon said that N1.4bn was set aside for payment of compensation to the displaced traders at the old Uyo market for loss of stalls and business opportunities.

Other items in the supplementary budget include N7.5bn for the provision of a housing scheme and N2.5bn for urban transportation scheme.