The Akwa Ibom State Govt Council has authorised a draft finances estimate of N955 billion for the 2025 fiscal yr.
This was contained in a press release issued by the state Commissioner of Info, Ini Ememobong after the council’s assembly presided over by Governor Umo Eno on Wednesday.
A breakdown of the estimate exhibits that whereas N300bn is for recurrent expenditure, N655bn is for capital tasks.
In comparison with 2024, the recurrent expenditure represents a 14 per cent lower whereas the capital expenditure is a 13 per cent improve.
It said, “The assembly, chaired by the Governor, Pastor Umo Eno, began with the presentation of the 2024 supplementary estimates and the draft recurrent and capital budgets for 2025 by the Commissioner for Finance.
“The supplementary finances displays financial savings of N8,922,513,000 and an augmentation of N82,414,029,890, included into the 2024 Appropriation Invoice.
“For the 2025 draft estimates, the proposed recurrent expenditure is N300,000,000,000, representing a 14% lower from final yr, whereas the capital expenditure is pegged at N655,000,000,000, reflecting a 13% improve in comparison with 2024.”
The assertion additional said that the projected Internally-Generated Income is N80bn — a 28% rise over the 2024 determine, including that the council authorised each estimates and directed their submission to the State Home of Meeting for legislative assessment and additional motion.
Additionally, the state Commissioner for Works and Fireplace Service, Prof Eno Ibanga, offered a report on pothole evaluation and repairs, assuring all that the state was heading in the right direction to attain a “no pothole” standing.
The council additionally authorised the implementation of a 65-year retirement age for non-academic workers of state-owned tertiary establishments, efficient from January 1, 2025, whereas it authorised the award of street tasks within the three senatorial districts throughout the state.