Akwa Ibom Governor Signs ₦695bn 2025 Supplementary Budget into Law

 Akwa Ibom Governor Signs ₦695bn 2025 Supplementary Budget into Law

Akwa Ibom State Governor, Umo Eno, has signed into law the N695 billion supplementary budget passed by the state House of Assembly.

The State House of Assembly, on Tuesday, passed a supplementary appropriation bill of N695 billion for the 2025 fiscal year, following the adoption of the report presented by the House Committee on Finance and Appropriation.

Presenting the committee’s report during plenary, presided over by the Speaker, Rt. Hon. Udeme Otong, the Chairman of the committee, Itorobong Etim, explained that the supplementary budget would be financed through various revenue sources, including statutory allocation, internally generated revenue, derivation funds, 13% derivation arrears, signature bonuses, exchange gains, and value-added tax (VAT), among others.

According to the report, the N695 billion supplementary budget comprised N125.66 billion for recurrent expenditure and N569.33 billion for capital expenditure, bringing the revised total budget size for 2025 to N1.65 trillion.

It said the new figure includes N425.66 billion for recurrent services and N1.22 trillion for capital expenditure. The original 2025 budget of N955 billion was passed by the Assembly in December 2024.

However, according to the statement obtained from the Government House Press unit on Thursday, the signing ceremony took place on Wednesday during the October edition of the State’s Project Delivery Meeting held at Government House, Uyo.

Speaking shortly after signing the budget, the governor expressed appreciation to the Speaker and members of the House of Assembly for the speedy passage of the Supplementary Appropriation Bill...