Governor Eno of Akwa Ibom State has presented a proposed budget of N955 billion for the 2025 fiscal year to the State House of Assembly.
This represents a significant increase from the revised provision of N923.46 billion in the 2024 budget.
The 2025 budget, tagged “Budget for Consolidation and Expansion,” is divided into recurrent expenditures of N300 billion and capital expenditures of N655 billion.
According to Governor Eno, the total capital receipts and expenditure for 2025 is estimated at N655 billion, a significant increase from the proposed revised provision of N573.32 billion for 2024.
The budget is predicated on an oil benchmark of $75 per barrel, a production rate of 2.12 million barrels per day, and an estimated exchange rate of N1,400/US$.
This is in line with the National Budget benchmark projections.
Key Objectives of the Governor Eno 2025 Budget;
– Food Security: Investing heavily in the agricultural revolution to achieve food security.
– Rural Development: Robust investments in modern living facilities, such as all-seasonal roads, rural electrification, and others, to improve the quality of life in rural areas.
– Education: Ensuring public schools are equipped and staffed by passionate and dedicated teachers.
To achieve these objectives, the state plans to adopt and improve the effectiveness of budget performance by ensuring fiscal discipline.
This includes implementing only programmes captured in the budget.
Speaker of the Assembly, Udeme Otong, assured the governor that the lawmakers would expedite the consideration process to ensure speedy passage of the 2025 budget estimate.
Otong urged all heads of Ministries, Departments, and Agencies (MDAs) to cooperate with the House of Assembly during the budget defence.
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