Governor Umo Eno of Akwa Ibom State has presented a ₦955 billion appropriation bill for the 2025 fiscal year to the Akwa Ibom State House of Assembly for consideration and approval.
During the presentation on Tuesday, Eno highlighted that the proposed budget represents a 3% increase from the revised ₦923.462 billion budget for 2024.
“Government has proposed a total budgetary outlay of ₦955.000 billion for the 2025 financial year, made up of ₦300 billion for recurrent expenditure and ₦655 billion for capital expenditure,” the governor stated.
Dubbed the “Budget of Consolidation and Expansion,” the 2025 budget is based on an oil price benchmark of $75 per barrel, a production rate of 2.12 million barrels per day, and an estimated exchange rate of ₦1,400 to $1, aligning with national projections.
Key economic indicators for the budget include a projected 3.68% GDP growth…
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