Governor Eno has restated commitment to the maintenance and expansion of the state’s infrastructure.
He made this known while presenting the 2025 budget to the Akwa Ibom state house if Assembly.
The budget is Christine’d ” BUDGET OF CONSOLIDATION AND EXPANSION”
N955.000 billion is the budgetary outlay for the 2025 Financial Year as against N923.462 billion naira of 2024. This represents an increase of 3%.
The budget is projected on an oil benchmark of $75.00 per barrel at a production rate of 2.12 million barrels per day with an estimated exchange rate of ₦1,400 /US$, in line with the National Budget benchmark projections.
N300.000 billion is proposed as Recurrent Expenditure
While capital Expenditure is estimated at – N655.000 billion.
Total – ₦955.000 billion.
The total projected Recurrent Revenue for 2025 is estimated at ₦830.000 billion as against ₦803.703 billion in 2024. This is a 3% increase in revenue projection for the year 2025
For the first time in the history of budget preparations in the state, the Governor spent weeks with Members of the Enlarged EXCO and demanded of them a detailed, comprehensive and implementable estimates from their Ministries and Agencies.
It went beyond the usual defense of their estimates before the Economics Development Ministry, without aligning such to specific areas of execution and implementation
The governor assures that the proposed 2025 budget contains specific projects that align with his administration’s Arise agenda aimed at scaling up the tempo of development in the state.
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