THE Akwa Ibom State Executive Council has approved a draft budget estimate of N955 billion for the 2025 fiscal year.
This was disclosed in a statement by the Commissioner for Information, Ini Ememobong, following a council meeting chaired by Governor Umo Eno yesterday.
The proposed budget allocates N300 billion to recurrent expenditure and N655 billion to capital projects.
Compared to the 2024 budget, recurrent expenditure has decreased by 14%, while capital expenditure has increased by 13%.
The statement read: “The meeting, presided over by Governor Umo Eno, began with the presentation of the 2024 supplementary estimates and the draft 2025 recurrent and capital budgets by the Commissioner for Finance. The supplementary budget incorporates N8.9 billion in savings and an augmentation of N82.4 billion into the 2024 Appropriation Bill.
“For the 2025 draft estimates, the proposed recurrent expenditure is N300 billion, reflecting a 14% decrease from 2024, while the capital expenditure stands at N655 billion, representing a 13% increase.”
The statement also noted a projected Internally-Generated Revenue (IGR) of N80 billion for 2025, marking a 28% rise from 2024.
Both the supplementary and draft budgets were approved for submission to the State House of Assembly for legislative consideration.
Additionally, the Commissioner for Works and Fire Service, Prof. Eno Ibanga, reported on pothole assessment and repairs, affirming the state’s commitment to achieving a “no pothole” status.
The council further approved the implementation of a 65-year retirement age for non-academic staff in state-owned tertiary institutions, effective January 1, 2025, and sanctioned road projects across the state’s three senatorial districts.
