The Akwa Ibom State Executive Council has approved a draft budget estimate of N955 billion for the 2025 fiscal year, with N300 billion allocated for recurrent expenditure and N655 billion for capital projects.
The budget reflects a 14% decrease in recurrent expenditure compared to 2024, while capital expenditure sees a 13% increase.
The projected Internally-Generated Revenue for 2025 is N80 billion, marking a 28% rise from the previous year.
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Governor Umo Eno, presiding over the council meeting, directed that the draft budget be submitted to the State House of Assembly for review and further action.
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