The Akwa Ibom State Executive Council, led by Governor Umo Eno, has approved a N955 billion budget for the 2025 fiscal year, with a focus on key developmental projects and economic sustainability.
The budget includes N300 billion for recurrent expenditure, a 14% decrease from the 2024 figure, and N655 billion for capital expenditure, reflecting a 13% increase to prioritize infrastructure and other growth initiatives.
The fiscal plan, detailed in a statement on Wednesday by the Commissioner for Information, Comrade Ini Ememobong, also projects an increase in the state’s Internally Generated Revenue to N80 billion, which marks a 28% rise compared to 2024.
Governor Eno emphasized the need for efficient and timely execution of the budget, urging all ministries, departments, and agencies to deliver results with precision.
In addition to the 2025 budget, the Executive Council approved a supplementary budget for 2024, which includes savings of N8.92 billion and an augmentation of N82.41 billion to the original appropriation bill. The revised 2024 budget now reflects a total increase in allocation to support the state’s ongoing projects.
The Council also approved new infrastructure projects, including road constructions aimed at enhancing connectivity between key local government areas. Notable projects include the 12.5km Ibesit-Ikot Oto-Ikot Ekpenyong-Ikot Akama-Itung-Ediene Attai-Ikot Ebak road, which will link Oruk Anam and Mkpat Enin LGAs, and the 10.9km Nsai Use-Use Ikot Amama-Ibiaku Ikot Esifa-Itong Mmong-Nkwot Edem Edet road connecting Ibiono Ibom and Ikono LGAs.
Further, the state government has approved new access roads to the School of Health Technology in Etinan and plans to construct and rehabilitate rural bridges to enhance local economies.
On environmental sustainability, the Council authorized the procurement of new waste management equipment, including receptacles and disposal vehicles, to improve waste management services across the state.
In a move to enhance the welfare of public sector employees, the Council approved a new retirement age of 65 for non-academic staff in state-owned tertiary institutions, effective from January 1, 2025.
The 2025 budget and the supplementary 2024 budget will now be forwarded to the State House of Assembly for legislative review and further action.
“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 projected Internally Generated Revenue (IGR) is N80,000,000,000, a 28% rise over the 2024 figure. The total budget estimate for 2025 stands at N955,000,000,000.
“The Council approved both estimates and directed their submission to the State House of Assembly for legislative review and further action”. The release stated.
