The Executive Chairman of Eket Local Government Area, Rt. Hon. Akaniyene Tommey on Wednesday, May 25th, 2021 presented a proposed budget of Two Billion, Three Hundred and Eighty-three million, Two Hundred and Forty Thousand Naira only for the activities of the Area Council for the 2021 financial year before the members of the Eket Legislative Council.
The budget which stands at Two Billion, Three Hundred and Eighty Three Million, Two Hundred and Fourty Thousand Naira (#2,383,240,000) comprises of a total recurrent revenue of Two Billion, Two Hundred and Thirty-one Million, Six Hundred and Seventy Thousand Naira (#2,231,670,000) only and a total estimated Capital Receipt of One Hundred and Fifty-one Million, Five Hundred and Seventy Thousand Naira (#151,570,000) only and a non-debt recurrent expenditure of One Billion, Six Hundred and Sixty-six Million, Two Hundred and Forty Thousand Naira (#1,666,240,000) only was received by the Leader of the House during their legislative session.
Presenting the budget, the Council Boss revealed that the essence of the budget is to attain a considerable level of macro-economic stability which the Council anticipates, will stir economic activities meant to spice the needed economic growth and development both in the informal and agro-based sectors of the economy based on sustainable development goals.
The Chairman further confirmed that despite the economic doldrum and COVID-19 pandemic which characterized the year 2020, the Council was able to meet its obligation in the recurrent expenditure and statutory transfers as well as execution of capital project which some are on-going.
Further breakdown of the 2021 budget reveals that the economic sector gulps 38 percent of the capital budget size while the Social Services sector represented 15 percent of the capital vote. The Environmental, Urban and Regional Development sector also took 15 percent of the capital vote with the General Administration Sector taking 32 percent of the total capital estimates.
Receiving the budget, the Leader of the Eket legislature Hon. Samuel Ekpo thanked the Chairman for the cordial relationship both arms of government have enjoyed so far and smooth presentation of the budget before the House adding that the members of the House shall peruse and do justice to it.