…Reviews 2025 Performance.
Akwa Ibom State Commissioner for Budget and Economic Planning, Dr Nsikan Linus Nkan, has presented the breakdown of Akwa Ibom State’s 2026 budget, totalling N1.584 trillion.
The budget breakdown, which was attended by various stakeholders in the fiscal and financial sector, civil society organisations, traditional rulers, and the media, among others, took place at the ICT Centre, Office of the State Accountant-General, Idongesit Nkanga Secretariat, Uyo, over the weekend.
Reviewing the performance of the 2025 Budget, Dr Nkan stated that the state recorded significant progress in capital project execution, fiscal discipline and revenue performance, attributing the achievements to prudent financial management, improved budget implementation processes and strong political will.
He noted that the positive outcomes of the 2025 fiscal year laid a solid foundation for the 2026 Budget of Expansion and Growth.
Speaking on the components of the 2026 approved budget, Dr Nkan said the Capital Expenditure stood at N1.167 trillion while the Recurrent Expenditure was pegged at N416.5 billion.
According to the Commissioner, the budget, which is titled the people’s budget of expansion and growth, is anchored on the ARISE Agenda blueprint of the present administration.
He explained that the budget aims to strengthen food security and sufficiency by expanding mechanised agriculture, supporting small-holder producers and promoting value chains, improving living conditions in rural areas and completing ongoing flagship infrastructure projects, including roads, bridges, aviation, health facilities and beginning new ones critical for connectivity, trade, investment and job creation.
Dr Nkan further pointed out that the 2026 budget would strengthen internal security architecture, including community-based initiatives, digital surveillance and waterways protection to ensure peace and protect lives and property.
He stated that the budget would improve the quality, accessibility and relevance of education at all levels and promote jobs for citizens and enlarge that part of economic prosperity by expanding opportunities for growth in business, leisure and tourism, as well as continue to attract foreign investment by creating a business-friendly environment.
“Investment in human capital development and social inclusion, streamlining the tax system to reduce redundancies, improve compliance and enhance business confidence, as well as continue to leverage technology to track high-income earners and formalise the informal sector to ensure fair taxation without stifling business growth, were also parts of the people’s budget of expansion and growth, according to the Commissioner.
Other highlights of the budget as presented by Dr Nkan include investment in renewable energy projects and waste-to-wealth initiatives to reduce greenhouse gas emission, create green jobs and promote environmental sustainability, promote State Fiscal Responsibility and Public Procurement laws, minimize wastages, leakages and corruption and publish regular accessible reports to stakeholders as well as enhancing transportation system in the State through provision of Compressed Natural Gas (CNG) buses and construction of marine aluminum passenger ferry boats.
He expressed appreciation to the Governor, Pastor Umo Eno, for his transparency and accountability with regard to the budgeting system and thanked the State House of Assembly and other stakeholders for working tirelessly for a successful 2026 budget.
Earlier, the Director of Budget, Akwa Ibom State, Mr Otu Asuquo, explained that the budget breakdown was a yearly routine to offer further clarifications on the provisions of the approved budget as passed by the Akwa Ibom State House of Assembly and assented to by the Governor.
Mr Otu specially hailed the Governor, Pastor Umo Eno, for his exceptional leadership and commitment to fiscal discipline, adding that all sectors of the economy have been duly captured in the budget to promote inclusivity.
Goodwill messages from the State Accountant-General, Pastor Uwem Andrew-Essien, and State Auditor-General, Pastor Isaiah Ntekim, expressed appreciation to the budget implementation team for acting within the budget cycle, saying that with the budget, the state would begin to witness a boom.
In their reactions, stakeholders applauded the state government for being consistent in making budget disclosures and carrying other stakeholders along, and called for its sustenance.
