Akpabio said the bill was an amendment to the former governor and deputy governor pension law of 2006 and not a new law as being speculated.
The governor spoke through the Commissioner for Information, Aniekan Umanah, in a programme on Planet FM 101.1 in Uyo, the state capital.
Akpabio insisted that the newly amendment bill was in the interest of the state.
He said: "The bill is simply an amendment to the law enacted in 2006. It exists in several states.
What the bill seeks to achieve is limit endless medical expenditure.
"The old law didn't put any cap on medical expenditure.
There was no limit. But the governor in his own wisdom decided it was important we put a ceiling so that we don't make it open ended any more.
"The governor is not seeking an amendment in his own interest, rather it is in the interest of the state because if you leave expenditure open ended it means you can spend close to N500million in one year without anybody stopping you since there is no law.
"People must also understand that medical expenses provision is not a payment provolone.
It is not as if you have access to it. There are procedures before you can get it."
Lawmakers in the House of Assembly on Monday passed into law a bill seeking a pension for life at a rate equivalent to the salary of the incumbent governor and deputy governor.
The law also provided for the former governor a provision for funds to employ a cook, chauffeurs and security guards at a sum not exceeding N5 million per month and N2.5 million for the deputy governor.
According to the bill, the former governor would also be entitled to free medical services for his person and spouse at a sum not exceeding N100 million per annum and N50
million for former deputy governor.
The bill also sought to provide for the former governor a befitting accommodation not below a five- bedroom maisonette in either Abuja or Akwa Ibom.
The bill also provided for yearly accommodation
allowance of 300 per cent of annual basic salary for the deputy governor.
The former governor would also receive a severance gratuity of 300 per cent of annual basic salary as at the time he/she leaves office.
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