The Akwa Ibom state Government says its 2018 budget is not “over bloated’’ as being speculated by Policy Alert, an NGO based in Uyo.
The Commissioner for Finance, Mr Linus Nkan, made this known in an interview with newsmen in Uyo on Wednesday.
According to the commissioner, the accusation is baseless and without facts.
Nkan said the budget proposals were anchored on estimates and not actual, which enabled the government to make adjustments.
He said that the allegation was misleading considering the current exchange rate of the country’s currency against the dollars.
The commissioner explained that the exchange rate was important in determining the budget size.
“While the 2017 budget was based on an exchange rate of N196 to a dollar, the 2018 budget is pegged on an exchange of…
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