The Akwa Ibom State House of Assembly, on Tuesday, approved the 2026–2028 Medium Term Expenditure Framework/Fiscal Strategy Paper (FSP), giving the green light to the Executive to present the estimates of the 2026 budget to the Legislature.
The approval followed the adoption of the findings and recommendations of the report of the Committee on Economic Planning and Development presented by the Chairman, Dr. Nsidibe Akata (APC, Eket state constituency).
Governor Umo Eno had forwarded the proposed MTEF/FSP document to the House on Thursday, August 7th, 2025.
At the plenary presided over by the Speaker, Rt. Hon. (Elder) Udeme Otong, the House approved N1.650 trillion budget size for 2026 fiscal year both for revenue and capital.
The report reads partly, “That budget allocation should be given priority to social sector (i.e Education and Health Sub-sectors) and rural infrastructure development.
“That Capital Expenditure Ratio versus Recurrent Expenditure be adjusted to 60:40 to justify provision for personnel, new recruitment, pension and gratuity arrears”.
From the 2026–2028 MTEF document, the committee noted that the document sought to provide a backward looking summary of key economic and fiscal trends that will affect the public expenditure in the future economic and fiscal update.
It also noted that the document set out Medium Term Fiscal Object and Targets, including Tax Policy, Revenue Mobilization, Level of Public Expenditure, Deficit Financing, and Public Debt-Fiscal Strategy Paper (FSP) and Medium Term Expenditure Framework (MTEF), while providing indicative sector envelopes for the period 2026–2028, which constitute the Budget Policy Statement (BPS).
According to the 2026–2028 MTEF/FSP document sent to the House, the committee observed that the total revenue projection for 2026 fiscal year is N1.650 trillion which comprises of an opening ballance of N257.1 billion, recurrent revenue (N1.365 trillion), capital receipt (N17.5 billion), and external loan of N10 billion.
Meanwhile, a bill seeking to establish the Akwa Ibom State School of Culinary Studies/Hospitality Management and Board has been passed by the House.
The bill, sponsored by Hon. Itorobong Etim of Uruan State Constituency, was passed after consideration of the report of the House Committee on Education presented during plenary on Tuesday, November 11, 2025.
The Chairman, House Committee on Education, Hon. Kenim Onofiok, while presenting the report, explained that inputs were received from stakeholders and general public, which assisted her committee on its observations and final recommendations.
“The bill will provide specialised training for our youth in the gastronomic sector; train chefs to become successful entrepreneurs in the Culinary and hospitality industry; prepare Akwa Ibom chefs for export and promote our local cuisines; enhance industrial growth and economic development of our dear State; and provide job opportunities for our teaming youth thereby reducing unemployment in the State“, she stated.
In his remark, the Speaker, Rt. Hon. Udeme Otong, directed the clerk, Mrs Nsikak-Abasi Orok, to communicate the House’s decision to the State Executive for appropriate action.
Also at plenary, six bills scaled through the first reading in the House. Four of the bills are sponsored by the Deputy Speaker, Rt. Hon. KufeAbasi Edidem while two other were sponsored by the Deputy Leader of the Assembly, Hon. Nsidibe Akata.
The bills sponsored by Rt. Hon. Edidem are: Akwa Ibom State Teaching Service Commission establishment bill, Technical Schools Board Law amendment bill, Universal Basic Education Law amendment bill, and the Secondary Education Board Law amendment bill.
Similarly, the bills sponsored by the Deputy Leader were A bill for a Law to Repeal the Public Procurement Law, Cap. 122, laws of Akwa Ibom State, 2022 and to Establish the Akwa Ibom State Public Procurement Regulatory Agency and the Fiscal Responsibility Law amendment bill.
The Speaker referred the bills to the House Committee on Business, Rules, Ethics an Privileges for rescheduling.
