The Akwa Ibom State Executive Council has approved a draft budget estimate of N955 billion for the 2025 fiscal year.
The announcement was made by Commissioner for Information, Ini Ememobong, after the council meeting chaired by Governor Umo Eno at Government House, Uyo.
The proposed budget allocates N300 billion to recurrent expenditure, marking a 14% decrease from 2024, and N655 billion to capital projects, reflecting a 13% increase. Internally Generated Revenue is projected at N80 billion, a 28% rise compared to the previous year.
The council directed the submission of the draft budget to the State House of Assembly for legislative review.
Additionally, the council approved the implementation of a 65-year retirement age for non-academic staff of state-owned tertiary institutions, effective January 1, 2025. It also sanctioned the award of road projects across the three senatorial districts to enhance infrastructure development.
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