Governor Umo Eno of Akwa Ibom on Tuesday presented a budget of N1.39 trillion for the 2026 financial year before the state House of Assembly.

Speaking at the presentation, Mr Eno stated that recurrent expenditure stood at N354.87 billion, while N1.035 trillion would be used for capital expenditure.

The governor said the 2026 budget represented a 16 per cent decrease from the revised 2025 budget of N1.65 trillion.

He further said the total capital receipts and expenditure for 2026 were estimated at N1.15 trillion, as against the revised provision of N897.14 billion for 2025.

Mr Eno said the 2026 budget, christened “The People’s Budget of Expansion and Growth,” would strengthen food security and sufficiency through mechanised agriculture, smallholder production, and value chain promotion.

The governor announced a projected recurrent revenue of N1.17 trillion for 2026, representing a nine per cent shortfall from the 2025 estimate of N1.26 trillion.

He said a capital receipt of N791.98 billion would be transferred from the consolidated revenue fund, while the balance of N243.16 billion would be derived from other sources.

“Income-earning potentials of rural households will be enhanced through home farm schemes, access to farm inputs, credit and extension services, and agro-processing support.

“The policy thrust of the budget is to improve the living conditions of the Akwa Ibom people in rural areas.

“The government will electrify rural communities, upgrade and construct rural roads, and renovate primary healthcare facilities.

“We shall complete ongoing flagship projects such as roads, bridges, aviation, and health facilities. We shall begin projects that are critical for connectivity, trade, investment and job creation,” he said.

The governor urged the House to expedite passage of the budget to enable the government to deliver democracy dividends to the people.

In his remarks, the speaker, Udeme Otong, urged ministries, departments, and agencies of the government to cooperate with the House by providing the required information.

“We pledge to do a thorough job and ensure speedy passage of the budget. The House shall scrutinise the budget with diligence, patriotism, and fairness.

“The essence is to ensure that it aligns with the state’s long-term development blueprint.

“Our job is not to approve figures but to ensure efficient allocation, eliminate waste and duplication, and strengthen fiscal discipline,” the speaker said.

(NAN)