22 hours ago
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The Akwa Ibom State Executive Council chaired by Governor Umo Eno has approved an estimate of N955 billion for the 2025 fiscal year.
The proposed budget estimate includes N300 billion for recurrent expenditure, a 14% decrease from 2024, and N655 billion for capital expenditure, representing a 13% increase to prioritize key developmental projects.
The fiscal plan, captured in the post-Executive Council Meeting release by the Commissioner for Information, Comrade Ini Ememobong, and made available to our correspondent in Uyo on Wednesday also projects an Internally Generated Revenue (IGR) of N80 billion, a 28% rise compared to 2024.
Emphasizing the state’s drive toward economic sustainability. Governor Umo Eno, the release said stressed the importance of timely and effective execution of the budget, urging all ministries, departments, and agencies (MDAs) to deliver results with precision and urgency.
The state Executive council, in addition to the 2025 budget estimate also approved the 2024 Supplementary Budget incorporating savings of N8.92 billion and an augmentation of N82.41 billion into the 2024 Appropriation Bill.
“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
On Infrastructure Expansion and Strategic Investments, the Council released reports approved new road projects spanning over 35 kilometers including; the 12.5km Ibesit-Ikot Oto-Ikot Ekpenyong-Ikot Akama-Itung-Ediene Attai-Ikot Ebak road; connecting Oruk Anam and Mkpat Enin LGAs, and the 10.9km Nsai Use-Use Ikot Amama-Ibiaku Ikot Esifa-Itong Mmong-Nkwot Edem Edet road, linking Ibiono Ibom and Ikono LGAs.
Other approved projects include access roads to the School of Health Technology in Etinan,
as well as the construction and rehabilitation of rural bridges to enhance connectivity and support local economies.
Reporting approvals on Environmental Sustainability and Welfare Initiatives, the state government approved the procurement of new waste management equipment, including receptacles and disposal vehicles.
In a move to improve workforce welfare, the Council also approved a new 65-year retirement age for non-academic staff in state-owned tertiary institutions, effective January 1, 2025.
