Akwa Ibom’s N1.39trn budget

While I wait for the commissioners for budget and finance to give further details on the N1.39 trillion budget presented to the house of the assembly by Gov. Umo Eno on Tuesday, I would like to make a comment or two on the governor’s budget statement, which he read to the lawmakers.

First, this is the second year that the government would enter the trillion naira club in terms of budget size; the first was last year. Very few states – just about five or so – are members. While Lagos state, with a population of 20 million, has budgeted N4.2 trillion for 2026, Akwa Ibom, with 7.3 million, is to spend N1.39 trillion. This means that per capita spend in Akwa Ibom would be about N200,000, while that of Lagos is expected to be N210,000. Lagos was the first to hit the billionaire’s club in 1988, six years before Akwa Ibom. Our state has grown quite rapidly since then.

In 2025, the Akwa Ibom house of assembly approved a budget of ₦955.000 billion for the fiscal year. Later that year, another N700 billion was approved by the house as a supplementary budget, raising the total to N1.650 trillion with a total recurrent expenditure of ₦425.666 billion and the capital provision of ₦1.224 trillion. I’m pretty sure that the house will further increase the N1.39 trillion proposal for 2026 to something around N1.5 trillion or thereabout. It’s not uncommon for lawmakers all over the world to tinker with the executive’s financial proposals. But the buck stops at the desk of the chief executive.

Three striking features of the 2026 budget stand out for me: one, the sheer size of capital expenditure; two, the focus on road and other infrastructures and three, the sheer size and number of various projects being undertaken by the government. Of the N1.39 trillion, N1.035 trillion or 75% is for capital expenditure and N354.8 billion or 25% is for recurrent. Seventy-five percent of the total budget to capital expenditure is “intentionally meant to accelerate and stimulate economic activities”, according to the governor. Roads and other infrastructures alone will take N387.5 billion; education, N31.6 billion and health, N136.1 billion. So far, 900 kilometres of roads have either been completed or are ongoing.

I am gratified that my village, Nung Udoe, will benefit from some of the road projects earmarked for next year. Although it stands at an intersection between Uyo and Eket, Nung Udoe has very bad internal roads. In fact, there is no single tarred road in the whole village, and yet it has been a local government headquarters for over 30 years. It has all the features of a small town, but the state of the roads has denied it that status. Whenever I can reach Pastor Eno, I will ask him to give us solar street lights and more roads. Nung Udoe should serve as a satellite town to Uyo. It’s just 15 minutes from the airport by a narrow road developed by Obong Attah. It should be expanded to cater for the huge traffic from Eket and the environs. I understand that the roads provided for in the budget for my village are a fallout of the series of town square meetings the governor held this year. Every other LGA will also benefit. I’m grateful to the government.

The governor told the House: “We are currently constructing over 900 kilometres of road across the state some have already been commissioned while others are ongoing. I made a promise during my campaign that we will not abandon any viable uncompleted road projects from previous administrations and so far, we have kept our promise. There is no Senatorial District in this State that we have not touched, either with a new road project or those whom we have deployed our finisher’s anointing to complete and commission.”

A Lagosian who visits Akwa Ibom state regularly wrote on Facebook last week: “Apart from Abuja, Akwa Ibom has the best road network in the country.” The 2026 budget will further put a stamp of authority on this observation.

Another feature of the budget that I like is the emphasis on agriculture, especially oil palm development. Two months ago, a friend in Lagos called and informed me of his plans to invest in the oil palm business in the state. He wanted to acquire a large plot of land and needed my help. I assisted, and he has acquired a large plot of land from many families in a village. Oil palm has been a traditional industry for our people for generations. My parents were involved in it in the 1960s and ‘70s. Gov. Eno’s proposal to invest in that sector is, therefore, as commendable as it is critical.

In June, for example, the global price of palm oil was $934.5 per metric ton. It’s a market we should tap into, and that’s why the government is planning to launch what it calls ‘’Palm Tree Crop Revolution’’ soon, in which seedlings and other inputs would be provided to farmers, while it becomes the off-taker. In addition, there’s an ongoing work at Ibom Model Farm in Nsit Ubium LGA and other initiatives in that sector. I studied agricultural economics, and I understand the multiplier effects of investing in agribusiness.

Other sectors like health, education and tourism are also receiving attention in the 2026 budget. The completion of important tourism investments like the ARISE Palm Park, the convention centre, and the renovation of the iconic Ibom Hotel and golf resort in 2026 will further give a fillip to the growth of tourism. The state is increasingly gaining national renown as a place to visit. There is no week we don’t have at least two organisations come in from other parts of the country to hold a conference, workshop or retreat in Uyo.

But the electricity sector remains a weak link in the chain. There was a power sector summit in August that developed a framework for the reactivation of that sector. The government should pay special attention to electricity supply. The recent news that electricity produced by Ibom Power is now being supplied solely to the Akwa Ibom market is music to our ears. But we want to see improvement in its availability.

The 2026 budget is Eno’s last fiscal pronouncement before the election year. By this time next year, we shall be looking back to assess the performance of the administration and be preparing to re-elect the governor. I have no doubt that the N1.39 trillion will make a great impact.