To ensure transpiracy in governance, the Akwa Ibom State government has reaffirmed it commitment to proper utilisation of public funds and leveraging on FAAc and generated revenue without borrowing to finance the budget of the state.
The state Commissioner , Ministry of Budget and economic planning , Dr Nsikan Linus Nkan alongside the commissioner for information and strategy, Mr Aniekan Umanah started this during budget implementation report Quarter two 2025 briefing
The budget commissioner noted that The 2025 Budget christened, “BUDGET OF
CONSOLIDATION AND EXPANSION” is aimed at building an Akwa Ibom which will consolidate the
gains from previous administrations for sustainable growth and expansion.
He added that the Budget was prepared in accordance with the International Public Accounting Standard (IPSAS) Accrual template and in compliance with the revised National Chart of Accounts (NCoA), using the prevailing macro-economic assumptions .
The state Commissioner for budget and economic planning, Dr Linus Nkan explained that the report includes the Original Approved budget
Appropriations of N955 billion for the year 2025 against each organizational unit for each of the core economic ,classification of expenditures (Personnel, Overheads, Capital, and Others) is 3.4% increase from the 2024 Approved Revised provision of N923.462 billion .
“Recurrent Expenditure – ₦300 billion Capital Expenditure – ₦655 billion Total – ₦955 billion”
Giving a breakdown of the inflow, Dr Nkan noted that the state has not loan to finance any projects in the state.
“Government Share of FAAC (Statutory Revenue) in Q2-N264,142,956,851.22 while the performance year-to-year is ₦525,742,008,879.84 which represents 69.6% of the Approved Statutory Allocation of ₦755,000,000,000.
Independent Revenue in Q2 is N36,994,462,233.36 while the performance year to-date is ₦53,303,656,272.37against ₦75,000,000,000.00 Approved Provision which represents 71.1% “
The Commissioner listed other projects which the state governor, Pastor Umo Eno has approved for construction.
Also speaking, the state information Commissioner, Mr Aniekan Umanah commended the state governor Pastor Umo Eno for being prudent in spending, adding that the state has the best budget performance.
The NUJ chairman in the state, Comrade Amos Etuk assured that the media will continue to be objective in their reportage.
Source: GRACE UDOMA – UYO
