The Akwa Ibom State Executive Council has approved a draft budget estimate of N955 billion for the 2025 fiscal year.
This decision was announced in a statement issued by the state’s Commissioner for Information, Ini Ememobong, following a council meeting chaired by Governor Umo Eno on Wednesday.
The budget breakdown reveals that N300 billion is allocated for recurrent expenditure, while N655 billion is earmarked for capital projects. Compared to the 2024 budget, the recurrent expenditure has decreased by 14%, while capital expenditure has increased by 13%.
The statement explained that the meeting, presided over by Governor Eno, began with the presentation of the 2024 supplementary budget and the draft 2025 budget by the Commissioner for Finance.
The supplementary budget reflects savings of N8,922,513,000 and an augmentation of N82,414,029,890, which has been incorporated into the 2024 Appropriation Bill.
For the 2025 draft estimates, the proposed recurrent expenditure stands at N300 billion, a 14% decrease from the previous year, while the capital expenditure is set at N655 billion, marking a 13% increase from 2024.
Additionally, the state’s projected Internally-Generated Revenue (IGR) for 2025 is N80 billion, which represents a 28% increase over the 2024 figure. Both budget estimates were approved by the council and will be submitted to the State House of Assembly for further review and approval.
In other matters, the state Commissioner for Works and Fire Service, Eno Ibanga, presented a report on pothole assessment and repairs, assuring that the state was on track to achieve a “no pothole” status.
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, the council approved the award of road projects in the three senatorial districts of the state.
