National
Consolidation, Then Expansion: Umo Eno’s 2025 Fiscal Plan For Akwa Ibom
By GWG Correspondent
Akwa Ibom State government has proposed a total budget of N955.000 billion for the 2025 Financial year as against the proposed revised provision of N923.462bn of 2024.
The state governor, Pastor Umo Eno presented the 2025 proposed budget to the Akwa Ibom State House of Assembly on Tuesday.
Eno who stated that the 2025 proposal was against the proposed revised provision of N923.462bn meaning a 3% increase from the 2024 revised budget. He christened the 2025 Akwa Ibom Budget as the “Budget of consolidation and expansion”.
“Government has proposed a total budgetary outlay of N955.000 billion for the 2025 Financial Year as against the proposed revised provision of N923.462bn of 2024 representing an increase of 3% from the 2024 revised budget.
“This is made up of: Recurrent Expenditure – N300.000 billion. Capital Expenditure- N655.000 billion. Total- ₦955.000 billion.
“The 2025 Budget, which is christened “Budget of consolidation and expansion, is predicated on an oil benchmark of $75.00 per barrel at a production rate of 2.12 million barrels per day with an estimated exchange rate of ₦1,400 /US$, in line with the National Budget benchmark projections.
“The National GDP has been projected at 3.68% growth rate with National inflation rate of 32.8%. The Policy Thrust of the 2025 Budget will be anchored on the ARISE Agenda of the present Administration”., Eno stated.
The governor listed achievement of food security through investing heavily in the agriculture, Rural development through robust investments in rural electrification, primary healthcare facilities, schools, markets, recreational facilities etc to improve the quality of life for rural dwellers across Akwa Ibom as among policy objectives of the 2025 budget.
He also mentioned ensuring that public schools were equipped and staffed by teachers who are passionate and dedicated, ensuring peace and security; prioritization of the welfare of civil servants and encourage a spirit of entrepreneurship among the objectives.
Eno celebrated God’s goodness and mercies to the people and the state , stressing that by God’s mercies his administration achieved much despite lean resources and challenging macroeconomic environment.
He promised a faithful implementation of the 2025 Budget for the general good of the Akwa Ibom people, saying, “Our resolve to alleviate poverty and create wealth, generate employment, bring about agricultural revolution and uplift the overall welfare of our people remains unflinching and an abiding article of engagements and faith
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