… for growth and expansion 2024
By Anietie Edet Etim
The “ARISE budget for growth and expansion” proposed by Gov Eno for 2024 aims to bring about significant improvements in the lives of the people of Akwa Ibom State. This budget is designed to prioritize key sectors and initiatives that will foster economic development, infrastructure enhancement, social welfare, and human capital development. Through strategic allocation of resources, Gov Eno envisions a transformative impact on the lives of the residents.
The 2024 Budget, which is christened “ARISE BUDGET FOR GROWTH AND EXPANSION”, is predicated on an 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 National GDP has been projected at 3.76% growth rate with a National inflation rate of 21%.
Governor Eno has proposed a total budgetary outlay of N845.632 billion for the 2024 financial year.
Firstly, the budget emphasizes economic growth by focusing on sectors such as Agriculture, social services and tourism. Gov Eno recognizes the potential of these industries in creating employment opportunities and boosting the local economy. By investing in modern farming techniques, promoting industrialization, and developing the state’s tourism potential, the ARISE budget aims to attract investments, generate revenue, and uplift the standard of living for the people.
Secondly, the budget prioritizes infrastructure development to enhance connectivity and improve the overall quality of life. Gov Eno plans to allocate significant funds towards the construction and maintenance of roads, bridges, and transportation systems. This will facilitate easier movement of goods and people within the state, stimulate trade and commerce, and improve access to essential services such as healthcare and education.
Thirdly, the ARISE budget places a strong emphasis on social welfare programs. Gov Eno recognizes the importance of providing a safety net for vulnerable populations and promoting inclusivity. The budget includes provisions for healthcare services, education, and social assistance programs, particularly targeting the less privileged. By ensuring access to quality healthcare, promoting education, and offering social support, the aim is to create a more equitable society where everyone has the opportunity to thrive.
Lastly, the budget prioritizes human capital development through investments in skills training, entrepreneurship, and job creation. This includes initiatives to enhance vocational training programs, support small and medium-sized enterprises, and attract investments that will lead to the creation of more jobs. By equipping individuals with the necessary skills, fostering entrepreneurship, and improving the employment landscape, the ARISE budget aims to empower the people of Akwa Ibom State, reduce poverty, and create a sustainable future for all.
In conclusion, the “ARISE budget for growth and expansion” proposed by Gov Eno for 2024 presents a comprehensive plan to improve the lives of the people of Akwa Ibom State. Through its focus on economic development, infrastructure enhancement, social welfare, and human capital development, this budget aims to create an enabling environment for progress and prosperity. By strategically allocating resoHow Gov Eno will improve lives through the “ARISE budgeturces and implementing targeted initiatives, Gov Eno seeks to uplift the standard of living, promote inclusivity, and pave the way for a brighter future for the residents of Akwa Ibom State. By strategically allocating resources and implementing targeted initiatives, Gov Eno seeks to uplift the standard of living, promote inclusivity, and pave the way for a brighter future for the residents of Akwa Ibom State.
– Written by Anietie Edet Etim, President, TEAM UP CONNECTIONS FOR UMO ENO SUPPORT GROUP
