The Akwa Ibom State Executive Council has approved a draft budget estimate of N955 billion for the 2025 fiscal year.
This was disclosed by the state’s Commissioner for Information, Ini Ememobong, following a meeting of the council presided over by Governor Umo Eno at Government House, Uyo.
The proposed budget breakdown reveals that N300 billion is allocated for recurrent expenditure, while N655 billion is earmarked for capital projects.
The 2025 draft estimates show a 14% decrease in recurrent expenditure, which stands at N300 billion, compared to the previous year. In contrast, capital expenditure has increased by 13%, rising to N655 billion.
Additionally, the projected Internally Generated Revenue (IGR) for the state is N80 billion, reflecting a 28% increase from 2024.
The council approved the budget estimates and directed their submission to the State House of Assembly for legislative review and further action.
In other developments, the council also approved the implementation of a 65-year retirement age for non-academic staff of state-owned tertiary institutions, effective from January 1, 2025. Furthermore, the council authorized the award of road projects across the three senatorial districts in the state.
