The Akwa Ibom State Executive Council has approved a draft budget estimate of N955bn for the 2025 fiscal year......See Full Story>>.....See Full Story>>
A breakdown of the estimate shows that while N300,000 billion is for recurrent expenditure, N655 billion is for capital projects.
In a meeting presided over by Governor Umo Eno, the recurrent expenditure represented a 14 percent decrease from that of 2024 while the capital expenditure of N655 billion reflects a 13 percent increase compared to 2024.
The commissioner for Information, Comrade Ini Ememobong who made this known in a statement made available to the media said the council also approved a supplementary budget of N8 9 billion for 2024 being “an augmentation of the N82. 4 billion incorporated into the N2014 appropriation bill.”
“The meeting, chaired by the Governor, Pastor Umo Eno started with the presentation of the 2024 supplementary estimates and the draft recurrent and capital budgets for 2025 by the Honourable Commissioner for Finance.
“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” he said.
According to the commissioner, the projected Internally Generated Revenue (IGR) is N80,000,000,000, a 28% rise over the 2024 figure adding the council approved both estimates and directed their submission to the State House of Assembly for legislative review and further action..
He said the Commissioner for Works and Fire Service, Prof. Eno Ibanga presented a report on pothole assessment and repairs, assuring that the state was on course to achieve a “no pothole” status..
In a major policy review, the council also
approved the implementation of a 65-year retirement age for non-academic staff of state-owned tertiary institutions, effective 1st January 2025 while it approved the award of road projects across the three senatorial districts of the state.
The projects included the construction of a 12.5km road spanning Ibesit-Ikot Oto-Ikot Ekpenyong-Ikot Akama-Itung-Ediene Attai-Ikot Ebak in Oruk Anam and Mkpat Enin LGAs.
Others were the construction of a 2.7km road from Nto Obio Akpan-Ikot Obong-Urua Akpan in Essien Udim LGA, and a 2km road from Ikot Uso-Udo Atan-Nto Obodem Mbiaso in Ikot Ekpene LGA.
Similarly, the construction of a 10.9km road with two 40m-span bridges spanning NSAID’s Use-Use Ikot Amama-Ibiaku Ikot Erica-Itong Nkwot Edem Edet in Ibiono Ibom and Ikono LGAs were also approved.
“Re-award of the 21.5km Ikot Ayan Ediene-Ikot Nita-Urua Naira-Ikot Nseyen-Nkwot-Nnung Ukim road, including a 45m-span bridge, in Ikono LGA.
” Construction of a 2km access road to the School of Health Technology in Etinan LGA.
“Construction of a 7.7km road, including State Housing Road with spur, Ikot Obiokpon/Ibong Road with spur, and Mount Zion Road with spurs in Ikot Ekpene LGA.”