• Friday, March 29, 2024
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How late passage of state’s 2019 budget cost Akwa Ibom N43b World Bank grant, by Udom

Ibom to shut public, private schools on Friday

Governor Udom Emmanuel has said that late passage of the state’s 2019 budget cost Akwa Ibom  a N43.4bn World Bank-Assisted States Fiscal Transparency, Accountability and Sustainability (SFTAS) Programme-for-Results fund, recently shared to 24 states of the federation by the Federal Government.

Udom, who spoke during the inauguration of the State’s post- COVID-19 Economic Reconstruction Committee in the Banquet Hall of Government House in Uyo, maintained that the state missed the grant because of the late passage of the 2019 budget which he explained was the condition required for the payment by the fund.

He recalled that the immediate-past State House of Assembly had been constrained in its duties due to the political fracas of the time where three former PDP lawmakers who defected to another political party wanted to change the leadership of the Assembly

As a result, there was a delay in the passage of the 2019 budget whereas, the SFTAS required that only states which passed the previous years’ budget early enough would benefit from the grant.

He frowned at hasty conclusions made by some persons and called for in-depth investigations into government activities from concerned members of the public, rather than misleading the people with erroneous information.

The Akwa Ibom post-Covid-19 Economic Re-Construction Committee is chaired by Akpan Hogan Ekpo, a professor of  Economics and former Vice-Chancellor, University of Uyo while Prof Emmanuel Onwuoduokit is the Secretary.

While inaugurating the committee, the governor said the Covid-19 has affected the global economy such that there is a need to chart new ways to boost the economy of the state without reliance on oil.

Emmanuel, who listed a 9-point terms of reference for the Committee, disclosed that the committee is at liberty to co-opt any expert from across the globe to assist in meeting the target.

He charged the committee to make recommendations for a strong social re-orientation programme for the citizens of the state across board, the need to unlearn old mindsets, adopt new ones and see the value of life beyond what others see.

Governor Emmanuel urged the Committee to design a workable formula towards restoring basic livelihood even if only at subsistence level, advising members to “develop conflict- sensitive policies that will lead to identifying low hanging fruits, stability and prosperity for all”.

He further charged members of the Committee who are drawn from Corporate, Government, Medium Scale Enterprises and the Academic to among others things, “guide the state government in the formulation of a policy framework necessary to create a viable economy Post Covid-19”.

He urged the Committee to identify and explore ways and means of sourcing funds and attracting investment partners with comfortable terms, locally, nationally and internationally in the realisation of every identifiable revenue generating projects.

He said this should also involve the redesigning of policies targeting and attracting technical assistance including bilateral, multilateral and Foreign Direct Investment.

The governor said reconstruction committee would also develop a priority list of economic Re-Construction projects, then establish the sequence of prerequisite best order of implementation, segmented in series and parallel, and indicate the duration of each segment.

The committee, which has one month to submit its report to the Governor, would also state measurable indicators of sustainable socioeconomic growth and development of Akwa Ibom State with little or no revenue from oil.

Most members including the chairman, participated in the inauguration from their respective locations around the country through teleconferencing due to the current lockdown in the country.