Akwa Ibom Capable Of Funding N1.390trn 2026 Budget – Commissioner

The commissioner for Budget and Economic Planning, Dr. Nsikan Linus Nkan, has assured that the Akwa Ibom State government has the financial muscle to fund the earmarked N1.390 trillion 2026 by budget.

The commissioner who disclosed this before the House of Assembly’s Budget and Finance Committee, explained that the estimate was carefully considered based in line with financial prudence and transparency, emphasising that every figure was carefully reviewed to ensure alignment with the state’s financial capacity.

Nkan, explained that “the N1.390 trillion budget proposal for the 2026 fiscal year will deepen rural economic participation, expand support for Micro, Small and Medium Enterprises (MSMEs), and consolidate developmental strides in agriculture, healthcare, and infrastructure.”

Speaking during the budget briefing and public hearing organised by the State House of Assembly Committee on Appropriation and Finance at Luton Park, Uyo, the state capital, Dr Nkan maintained that the government’s approach aligns with Governor Umo Eno’s economic development blueprint.

He described the total budget size as both “ambitious and realistic,” given current revenue indicators. The proposal allocates a total of N1.035 trillion to capital expenditure, while N354.8 billion is set aside for recurrent spending.

According to him, this overwhelming shift toward capital spending underscores the administration’s resolve to channel resources into projects that expand economic infrastructure, enhance social services, and stimulate long-term economic growth.

The commissioner recalled that the budget’s sectoral spread reflects the outcome of the recently concluded Town Hall meetings across the State’s constituencies.

He explained that a significant portion of the capital envelope is allocated to infrastructure development, with N387.5 billion projected for roads, bridges, and related works across both urban and rural communities.

“The health sector will receive a N136.1 billion investment, while education gets N31.6 billion for school upgrades, teacher development, and learning facilities,” he explained.

Nkan emphasised that the 2026 fiscal plan is based on the state’s Medium-Term Expenditure Framework (MTEF), guided by realistic revenue forecasts and a commitment to minimise waste.

In a keynote presentation, Commissioner for Finance   Emem Bob stated that “the budget proposal reflects the collective aspirations of the people and will lay a solid foundation for a more prosperous, inclusive, and resilient Akwa Ibom.”

He highlighted the Ministry of Finance’s preparedness to fund the budget through enhanced electronic revenue collection for the Treasury Single Account (TSA), prudent financial management, and fiscal discipline. Bob revealed that, as of November 2025, the administration had fully cleared the N39.831 billion commercial banks’ debt inherited from previous administrations.

He noted that the budget, titled “The People’s Budget for Expansion and Growth,” is a compendium of stakeholders’ inputs gathered during Governor Eno’s public consultations across the ten federal constituencies.

Earlier, the chairman of the House Committee on Appropriation and Finance, Dr Itorobong Etim, in her opening remarks, outlined the objectives of the public hearing.

These included ensuring citizens’ participation in the budget process, allowing the executive arm to present its scorecard, briefing the people on the state’s affairs and future outlook, obtaining feedback on government projects, mobilising the people for budget implementation, providing an economic health check, and engendering good governance, accountability, and transparency.

The Speaker of the Akwa Ibom State House of Assembly, Rt. Hon. Udeme Otong, reiterated the legislature’s commitment to an inclusive, transparent, and participatory budgeting process.

Represented by the House Leader, Rt Hon Otobong Bob, the Speaker emphasised that public contributions remain vital in shaping a people-centred fiscal plan and commended stakeholders for their inputs towards the budget’s quick passage.