The Akwa Ibom State Executive Council has approved a draft budget of N955 billion for the 2025 fiscal year, prioritizing capital projects and increased internally generated revenue.
According to a statement from the Commissioner of Information, Ini Ememobong, the budget was finalized during a meeting chaired by Governor Umo Eno on Wednesday. The proposed expenditure includes N300 billion for recurrent spending, marking a 14% decrease from 2024, and N655 billion for capital projects, reflecting a 13% increase.
The council also reviewed a supplementary budget for 2024, which incorporates N8.92 billion in savings and an augmentation of N82.41 billion into the current appropriation bill.
Projected internally generated revenue for 2025 stands at N80 billion, representing a 28% increase over the previous year. Both the draft and supplementary budgets have been approved for submission to the State House of Assembly for further deliberation and action.
In other resolutions, the council approved a 65-year retirement age for non-academic staff in state-owned tertiary institutions, effective January 1, 2025. It also awarded road projects in the three senatorial districts and received a progress report from the Commissioner for Works and Fire Service, Prof. Eno Ibanga, on the state’s efforts to achieve a “no pothole” status.
Governor Umo Eno emphasized that the budget aligns with the administration’s commitment to infrastructural development, economic growth, and improved public services.
