Governor Umo Eno of Akwa Ibom State on Tuesday presented a N1.39 trillion budget for the 2026 financial year to the State House of Assembly.
Titled “The People’s Budget of Expansion and Growth,” the proposal reflects a 16 percent reduction from the revised 2025 budget, expanded to N1.65 trillion, which his administration approved in September to tackle emerging economic realities.
Out of the N1.39 trillion proposed for 2026, N354.867 billion (25%) is earmarked for recurrent expenditure, while N1.035 trillion (75%) goes to capital projects. These distributions maintain Akwa Ibom’s trend of high capital spending, but notably lower than the N569 billion capital allocation in the 2025 supplementary figures, which rose sharply due to inflation and new obligations
While presenting the budget the Governor told The Lawmakers that while the 2025 budget had expanded to accommodate the new minimum wage, emergency erosion control, new ministries, Ibom CNG mass transit buses, and agricultural reforms, the 2026 budget focuses on “projects with direct citizen inputs” sourced from the statewide Town Square Meetings held across the 10 federal constituencies.
He further stated that a significant chunk of the 2026 capital outlay includes N387.5 billion for roads and infrastructure, N31.6 billion for education, among others. He stressed that the 2026 estimates are structured to stimulate economic activity without borrowing
“I urge you to quickly pass this budget so we may continue to work for our people. The president’s removal of fuel subsidy has made it possible for States to have more funds to execute both recurrent and capital projects.” He said.
The Governor stressed the ongoing initiatives across agriculture, rural development, SMEs, healthcare, tourism, sports, and security, noting that 69,107 farmers have already benefited from the agricultural revolution, while 13,060 registered farmers have received processing equipment through government interventions.
As an update, The Governor said that the state is set to launch a palm tree crop revolution to create generational wealth for rural households.
“Government will actively get involved in palm tree planting and eventually off-take from our farmers. Tractors have been purchased ahead of a December commissioning of the state’s tractor leasing company.”He continued. According to The Governor, in a bid to further decentralize development, his administration has created one project per Local Government Area, strictly drawn from the citizens’ needs assessment documents, a fiscal strategy also reflected in the 2025 supplementary budget which prioritised grassroots infrastructure, erosion control, and emergency interventions.He assured that the ARISE Agenda remains the guiding compass for 2026, stressing that capital receipts for the new fiscal year are projected at N1.035 trillion, with N791.978 billion expected from the Consolidated Revenue Fund and N243.155 billion from other capital receipts. This structure differs from 2025, where the Medium-Term Expenditure Framework (MTEF) had been expanded from N980 billion to N1.7 trillion to accommodate rising expenditure.In his response, The Speaker of The House of Assembly, Hon. Elder Udeme Otong, lauded the governor for presenting a budget aligned with the ARISE Agenda and commended his pledge to remodel the Assembly complex. He assured that The House under his leadership will scrutinize the proposal to eliminate waste, prevent duplication, and ensure “projects that uplift citizens are prioritized. In his response, The Speaker of The House of Assembly, Hon. Elder Udeme Otong, lauded the governor for presenting a budget aligned with the ARISE Agenda and commended his pledge to remodel the Assembly complex. He assured that The House under his leadership will scrutinize the proposal to eliminate waste, prevent duplication, and ensure “projects that uplift citizens are prioritised.“Our aim is not merely to approve figures, but to ensure efficient allocation of resources. With continued collaboration between the Executive and Legislature, Akwa Ibom is on the path to unprecedented growth and prosperity.” Otong said.
