The Akwa Ibom State Executive Council approved a draft budget estimate of ₦955 billion for the 2025 fiscal year.
The proposal, which includes ₦300 billion for recurrent expenditure and ₦655 billion for capital projects, was announced by the state’s Commissioner for Information, Ini Ememobong, following a council meeting chaired by Governor Umo Eno on Wednesday.
The budget reveals a shift in priorities, with recurrent expenditure reduced by 14% compared to 2024, while capital expenditure sees a 13% increase.
The draft reflects the administration’s focus on infrastructure and development.
“The meeting, chaired by the Governor, Pastor Umo Eno, commenced with the presentation of the 2024 supplementary estimates and the draft recurrent and capital budgets for 2025 by the Commissioner for Finance,” Ememobong stated.
The supplementary budget for 2024 incorporates savings of ₦8.92 billion and an augmentation of ₦82.41 billion into the current Appropriation Bill.
Meanwhile, the 2025 estimates project an internally-generated revenue (IGR) of ₦80 billion, marking a 28% increase over the 2024 figure.
The council approved both the supplementary and draft budgets, directing their submission to the State House of Assembly for legislative review.
In addition to budgetary matters, the Commissioner for Works and Fire Service, Prof. Eno Ibanga, presented a report on pothole assessments and repairs, emphasizing efforts to achieve a “no-pothole” status across the state.
The council also approved the implementation of a 65-year retirement age for non-academic staff in state-owned tertiary institutions, effective January 1, 2025.
Furthermore, it sanctioned the awarding of road projects across the state’s three senatorial districts to improve infrastructure.
This proposed budget underscores the administration’s commitment to fostering economic growth and addressing critical infrastructure needs in Akwa Ibom.
