The Akwa Ibom State Executive Council has approved a draft budget estimate of N955 billion for the 2025 fiscal year.
The state Commissioner of Information, Ini Ememobong, disclosed this after the council’s meeting, which was presided over by Governor Umo Eno at Government House, Uyo.
A breakdown of the estimate shows that while N300bn is for recurrent expenditure, N655bn is for capital projects.
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.”
Recurrent expenditures decreased by 14 per cent compared to 2024, while capital expenditures increased by 13 per cent.
He further stated that the projected Internally Generated Revenue is N80bn—a 28% rise over the 2024 figure. He added that the council approved both estimates and directed their submission to the State House of Assembly for legislative review and further action.
Meanwhile, 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.
It also approved the award of road projects in the three senatorial districts across the state.