Governor Umo Eno of Akwa Ibom State has signed the ₦695 billion supplementary budget passed by the State House of Assembly into law.
The State House of Assembly, on Tuesday passed a supplementary appropriation bill of ₦695 billion for the 2025 fiscal year, following the adoption of the report presented by the House Committee on Finance and Appropriation.
While presenting the Committee’s report during plenary presided over by the Speaker, Rt. Hon. Udeme Otong, the Chairman of the Committee, Hon. Itorobong Etim, explained that the supplementary budget would be financed through various revenue sources, including statutory allocation, internally generated revenue, derivation funds, 13% derivation arrears, signature bonuses, exchange gains, and value-added tax (VAT), among others.
The report stipulates that the ₦695 billion supplementary budget comprised ₦125.66 billion for recurrent expenditure and N569.33 billion for capital expenditure, bringing the revised total budget size for 2025 to ₦1.65 trillion.
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The new figure includes ₦425.66 billion for recurrent services and ₦1.22 trillion for capital expenditure. The original 2025 budget of ₦955 billion was passed by the Assembly in December 2024.
According to the statement obtained from the Government House Press unit, the signing ceremony took place during the October edition of the State’s Project Delivery Meeting held at Government House, Uyo.
In his speech after signing the budget, Governor Eno expressed appreciation to the Speaker and members of the House of Assembly for the speedy passage of the Supplementary Appropriation Bill.
Governor Eno reiterated his administration’s commitment to transparency, accountability, and people-centred governance.
“Let me assure the people of Akwa Ibom State that all hands are on deck and we will continue to carry out our duties with probity and dedication for the benefit of all. With the passage and signing of the supplementary budget today, we are further fired up to ensure the full implementation of government programmes and projects as contained in the budget.” the governor said.
In a move to accelerate project execution, the governor further released the sum of ₦60 billion to contractors whose Interim Payment Certificates were ready and charged heads of Ministries, Departments, and Agencies, along with Delivery Advisors, to ensure strict adherence to project timelines and standards.
The October edition of the Project Delivery Meeting featured 12 key presentations on ongoing projects across various sectors, namely: Tree Crop Revolution, State Electricity Market, Tourism Destination Marketing, Arise Senior Citizens Centre, Arise Resort, Ibom Tourism Summit, Renovation of Ibom Hotels and Golf Resort, Christmas Unplugged, Oron Maritime and Jetty Project, CNG City Bus Project, AKBC House, Ikot Ekpene International Market, Renovation of the House of Assembly Complex and Speaker’s Lodge, Court of Appeal Complex, 10-Airport Projects, Itam Industrial Park, Equipment Leasing Company, Ibom Model Farm, RAMP Project, Ibom International Hospital, General Hospitals in Ukanafun and Ibiono Ibom LGAs, Mother and Child Hospital, and the Aviation Village.
In his comments, the Speaker lauded the Governor for his inclusive leadership style and innovative governance approach.
“We have never witnessed this kind of delivery review in our state. It gives us a clear understanding of what is happening across sectors. For me, this is a strong oversight function,” he said while thanking the governor for the ongoing renovation of the Assembly Complex.
Source: Channels TV
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