Akwa Ibom State Governor, Umo Eno has presented a budget proposal of N955 billion for 2025 before the State House of Assembly.
The 2025 proposal comprises of a recurrent expenditure of N300 billion and capital expenditure of N655 billion.
Speaking during the budget presentation, Eno said that the total capital receipts and expenditure for 2025 stood at N655 billion as against the proposed provision of N573.32 billion for 2024.
He said that the 2025 Budget, christened: “Budget for Consolidation and Expansion” was predicated upon an oil benchmark of 75.00 dollars per barrel at a production rate of 2.12 million barrels per day.
Eno said that the 2025 oil benchmark was pegged at an estimated exchange rate of N1,400 per dollar, which fell in line with the national budget benchmark projections.
