Akwa Ibom State Governor, Umo Eno, has submitted a ₦955 billion budget before the state’s House of Assembly amid preparations for the funeral of his late wife and First Lady, Patience Umo Eno.
During the presentation of the 2025 fiscal year budget titled ‘Budget for Consolidation and Expansion’ on Tuesday, the Governor broke down the budget to comprise recurrent expenditures of ₦300 billion and capital expenditures of ₦655 billion.
According to Eno, the capital receipts and expenditure of the 2025 budget, which was predicated on an oil benchmark of $75 per barrel at a production rate of 2.12 million barrels per day with an estimated exchange rate of ₦1,400/US$ are estimated at ₦655 billion as against the proposed revised provision of ₦573.32 billion for 2024.
Presenting the budget, Governor Eno stated: “Total projected recurrent revenue for 2025 is estimated at ₦830 billion as against the proposed revised provision of ₦803.70 billion, representing a 3 percent increase in revenue projection for the year 2025“.
Outlining the objectives of the proposed budget, the Governor added, “Other objectives included rural development through robust investments in modern living facilities such as all seasonal roads, rural electrification and others within rural communities to ultimately improve the quality of life for those in the rural areas and help stem rural-urban migration. Ensuring that public schools in the state are equipped and staffed by teachers who are passionate and dedicated.”
The Speaker of the Assembly, Udeme Otong, assured the governor of a speedy consideration of the proposed 2025 budget which according to him will benefit the good people of Akwa Ibom.
Investors King reports that Governor Umo Eno presented the budget amid ongoing preparations to bury his late wife, Pastor Patience Umo Eno, who passed away recently.
In a formal statement by the family of the late First Lady, burial is scheduled for November 29, 2024, with at her country home in Ikot Ekpene Udo, Nsit Ubium LGA.
