• Gov Eno presenting the 2025 budget estimate to AKHA Speaker, Rt. Hon. Udeme Otong, on
Akwa Ibom Governor, Pastor Umo Eno, has presented the 2025 budget estimate of N955 billion to the Akwa Ibom State House of Assembly for consideration and approval.
During the presentation on Tuesday, Governor Eno emphasized that the proposed budget is 3% higher than the revised ₦923.462 billion budget for 2024.
The budget breakdown shows that capital expenditure is set at ₦655 billion, while recurrent expenditure is ₦300 billion.
Christened the “Budget of Consolidation and Expansion,” the 2025 budget is based on an oil price benchmark of $75 per barrel, a production rate of 2.12 million barrels per day, and an estimated exchange rate of ₦1,400 to $1, aligning with national projections.
Key economic indicators for the budget include a forecasted 3.68% GDP growth rate and a national inflation rate of 32.8%.
Governor Eno stressed that the budget will be guided by the administration’s ARISE Agenda, prioritizing poverty reduction, wealth generation, agricultural transformation, and enhanced well-being for the populace.
In his address to the Speaker and legislators of the State House of Assembly, Governor Eno expressed appreciation for their backing and trust in his leadership.
He attributed the state’s successes to divine intervention amid constraints in resources and a tough economic climate.
“We promise a faithful implementation of this Budget of Consolidation and Expansion for the general good of our people,” Eno said.
He called for the Assembly’s swift consideration and approval of the budget, noting that further details would be provided by the Commissioner for Finance.
The 2025 Appropriation Bill was further read the second time and committed to the House Committee on Appropriation and Finance for further legislative action.
