The Akwa Ibom State Executive Council has approved a draft budget estimate of ₦955 billion for the 2025 fiscal year.
According to a statement released by the Commissioner for Information, Ini Ememobong, this decision was made during a council meeting chaired by Governor Umo Eno on Wednesday.
The budget allocates ₦300 billion for recurrent expenditure and ₦655 billion for capital projects. This reflects a 14% decrease in recurrent expenditure and a 13% increase in capital expenditure compared to the 2024 fiscal year.
It stated, “The meeting, chaired by the Governor, Pastor Umo Eno, started with the presentation of the 2024 supplementary estimates and the draft recurrent and capital budgets for 2025 by the Commissioner for Finance.
“The supplementary budget reflects savings of N8,922,513,000 and an augmentation of N82,414,029,890, incorporated into the 2024 Appropriation Bill.
“For the 2025 draft estimates, the proposed recurrent expenditure is N300,000,000,000, representing a 14% decrease from last year, while the capital expenditure is pegged at N655,000,000,000, reflecting a 13% increase compared to 2024.”
The statement also highlighted a projected Internally-Generated Revenue (IGR) of ₦80 billion for 2025, representing a 28% increase from the 2024 figure. The council approved both the budget estimates and directed their submission to the State House of Assembly for legislative consideration and action.
Additionally, the Commissioner for Works and Fire Service, Prof. Eno Ibanga, presented a report on the assessment and repair of potholes across the state. He assured that efforts were on track to achieve a “no-pothole” status.
The council further approved the implementation of a 65-year retirement age for non-academic staff of state-owned tertiary institutions, effective January 1, 2025. It also sanctioned the award of road projects in the three senatorial districts of the state.