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Friday, November 16, 2018

AKWA IBOM 2019 BUDGET: A BOOST FOR WEALTH CREATION, HUMAN CAPITAL DEVELOPMENT


The Akwa Ibom State 2019 budget is christened Budget of Industrialization for Poverty Alleviation.  As the name implies its focus is to rejig the state economy to enhance job creation through industrialization, enterprise ecosystem in the state and massive human capital development.


To achieve this, government has made adequate provisions in the 2019 budget.

A review of sectorial allocations indicates a whooping N286.116b is allocated to the economic sector representing 64.2% of Total Capital Expenditure Outlay of N445.936billion. This will go a long way to reduce unemployment in the state in the coming year.


Unemployment according to International Labour Organization (ILO) refers to the number of economically active persons in a given population which are able and ready to work and earn income but cannot find work. 


Depending on the number the following situations might occur: High rate of crimes, Poverty, Frustration, Inequality, Increase in death rate, Uncontrolled birth rate, Insurgency etc. 


With the current drive by the state government unemployment is expected to be reduced by double digit in 2019 with the likely coming on board of more industries that will enhance job creation, wealth generation and poverty reduction.

#AKSG2019Budget

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