The Akwa Ibom State Executive Council has approved a draft budget estimate of N955 billion for the 2025 fiscal year. The announcement was made by the Commissioner for Information, Ini Ememobong, following the council’s meeting presided over by Governor Umo Eno at the Government House, Uyo.
According to Ememobong, the proposed budget allocates N300 billion for recurrent expenditure and N655 billion for capital projects. He noted that the recurrent expenditure represents a 14% decrease from the previous year, while the capital expenditure reflects a 13% increase compared to 2024.
“The projected Internally Generated Revenue for 2025 stands at N80 billion, marking a 28% rise over the 2024 figure,” Ememobong revealed. He added that the council has approved the budget estimates and directed their submission to the State House of Assembly for legislative consideration.
In addition to the budget approval, the council endorsed a new retirement policy for non-academic staff in state-owned tertiary institutions, extending the retirement age to 65 years. The policy will take effect from January 1, 2025.
The council also approved the award of road projects across the three senatorial districts of the state, further emphasizing its commitment to infrastructure development.
