2024 BUDGET: GOV UMO ENO LEADS AKWA IBOM TO RECORD BREAKING 79.1 PERCENT PERFORMANCE

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2024 BUDGET: GOV UMO ENO LEADS AKWA IBOM TO RECORD BREAKING 79.1 PERCENT PERFORMANCE
In an unprecedented outing in budget implementation and execution, the Akwa Ibom State Government has recorded a 79.1% performance in the 2024 budget.
The Permanent Secretary of the State Ministry of Finance, Mr. Mark Umoh, disclosed this at a Press Briefing held at the Conference room of the Ministry at Idongesit Nkanga Secretariat, Uyo.
Recall that the 2024 Budget was Christened “ARISE Budget for Growth and Expansion” and was revised from the original budget size of N849.971 billion to N923.462 billion.
According to Umoh, of this amount, the sum of N350.143 billion was for Recurrent expenditure while the sum of N573.319 billion was for capital expenditure.
“in the course of Budget implementation, the State has been publishing the Budget Performance Report on quarterly bases as a culture of promoting transparency and accountability in government financial management, in line with accepted best practices,” declared Umoh.
He said the briefing was to provide further clarifications on the 4th Quarter and full year 2024 Budget Performance Report published on the State Website.
In terms of revenue, Umoh said that as at 4th Quarter of 2024, with respect to Recurrent Revenue and Capital receipts, of which the total Revised provision was N923.462 billion made up of N803.703 billion for Recurrent Revenue and N119.759 billion for other Capital Receipts, the total sum of N1.111 trillion was actually realised. This, he said, represents a performance of 120.4%.
In Recurrent Expenditures, Umoh said the approved Revised Provision of 2024 Recurrent Expenditure was N350.1 billion. Of which, the total sum of N247.0 billion has been expended as at 4th Quarter of 2024 which he said represents a performance of 70.5%.
On Capital Expenditure, Umoh hinted that the approved Revised Capital Expenditure for 2024 was N573.3 billion. Out of this amount, he added, the total sum of N483.8 billion was expended as at 4th Quarter of 2024. This expenditure represents a performance of 84.4%.
The Permanent Secretary said the overall assessment of 2024 Budget Performance shows that out of the total revised budget size and expenditure of N923.462 billion, the sum of N730.878 billion (unaudited) has been expended resulting in actual budget performance of 79.1%, which, according to him, is the first time the State has reached this level of Budget implementation.
“The performance of the 2024 Budget Implementation is quite impressive; and it is our hope that since His Excellency, The Executive Governor, was deeply involved in the formulation of the 2025 Budget, a higher performance level is expected at the end of 2025 Fiscal Year,” he said.
Speaking also at the event, a representative of the Civil Society and Secretary General of the Centre for Human Rights and Accountability Network, CHRAN, Mr. Christopher Okon lauded the Akwa Ibom State Government for its intrinsic tendencies towards accountability and transparency.
“With this tendency, I think there is going to be a ripple effect in the society, because, as we have the 4th Estate of the Realm here and we also have the Civil Society representation here, the news is going to spread to all the nooks and crannies of the Akwa Ibom State society and even beyond, that there is an increasing transparency and accountability by the Akwa Ibom State Government both in budgeting and the disbursement of funds to cover projects,” Okon submitted.
On his part, one of the journalists and Editor of The Mail Newspapers, Mr. Ekemini Simon commended the Akwa Ibom State Government for not obtaining a loan in the last fiscal year.
Present at the Press Briefing were representatives of the Media Community led by the State Chairman of the Nigeria Union of Journalists (NUJ), Akwa Ibom State Council, Comrade Amos Etuk, Permanent Secretary, Ministry of Information, Akparawa James Edet, Permanent Secretary, Ministry of Economic Development, the Accountant General of the State, and the Director of Budget amongst others.

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