A: Aqeeqah is a recommended practice made for a new born child . Aqeeqah is not compulsory but if observed for the child then has many benefits for the child.
Qurbani is (wajib) compulsory every year on a person who is adult, sane and has in his net-possession assets that are equivalent of Nisab which are over his basic needs and necessities.
Hence if person has the amount of wealth that makes Qurbani compulsory then he must undertake the Qurbani.
A person does not have the means to make both the Qurbani and Aqeeqah then Qurbani should be made and the Aqeeqah postponed to a time when a person can afford to do it. If Aqeeqah is not done then there is no harm or sin.
And Allah Ta'ala Knows Best
Shafique Jakhura (Mufti) M.D. Mangera (Mufti)
Darul Ihsan Fatwa Dept.