One year after signing the 2024 “Arise Budget for Growth and Expansion,” Governor Umo Eno has returned to give account of how the funds were spent and stakeholders say the numbers are looking good.
At a press briefing in Uyo, Permanent Secretary, Ministry of Finance, Mark Umoh explained that Akwa Ibom not only met its revenue target but exceeded it.
A good chunk of the budget of N573.3 billion was earmarked for capital projects, and 84.4% of that has already been spent. Roads, schools, hospitals, and economic projects have been a major focus.
Meanwhile, recurrent expenditure—which covers salaries and running costs—was budgeted at N350.1 billion, with a 70.5% implementation rate.
Perm sec ministry of Finance gave a sectoral break down of the overall performance.
•Economic Development (Infrastructure, Agriculture, and Industries): 82.4%
•Administration: 80.3%
•Social Services (Health, Education, etc.): 62.7%
•Law and Justice: 62.7%
•Regional…
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