The Akwa Ibom State Governor, Umo Eno, on Tuesday, presented the 2024 budget proposal totalling N845.632 billion to the State Assembly for approval.
The proposal christened Arise Budget for Growth and Expansion is made of a recurrent expenditure of N352.917 billion and a capital expenditure of N492.715 billion.
The 2024 appropriation is “predicated on the oil benchmark of $73.96 per barrel at a production rate of 1.78 million barrels per day with an estimated exchange rate of ₦700 /US$, in line with the National budget benchmark projections,” the governor told the lawmakers.
