Akwa Ibom State government Tuesday presented the third quarter (Q3) of 2024 budget performance of 26.9 percent to journalists in Uyo, the tsta capital.
Presenting the budget performance, the state Governor, Pastor Umo Eno, told newsmen that the total performance for the period under review was 26.9 percent, with a balance of N528.4 billion of revenue over total expenditure for the period.
The governor, represented by the Commissioner for Finance, Dr Nsikan Nkan, disclosed that the huge budget balance recorded in the Q3 resulted from the highly prudent financial management method adopted by the state government in managing the revenue.
“In the period under review, the state government has not made any borrowing from any source since the beginning of this administration. The huge balance in the budget has been earmarked for various projects that have already been contracted for commencement during the dry season.
“In the next few weeks, the whole state is going to witness huge construction sites.” Nkan said.
The state government intends to spend the high savings/budget balance on the identified capital expenditure projects in the last quarter of the financial year with a view to raising this year’s budget performance to over 60 percent, he said.
Mr. Nkan further stated that, a three-day budget review organized by the state government aimed at streamlining the budgetary process in the state to achieve higher budget performances inclusiveness, transparency and attainment of the overall agenda of the governor in the year 2025 was underway.
“This programme was organized as a process towards achieving the present administration’s commitment to maintaining a realistic budgeting standard, high budget performance and prudent resource management”, he noted.
Speaking, the Commissioner for Information and Public Relations, Comr. Ini Ememobong, commended the governor for calling for this budget performance presentation in line with the World Bank guidelines to publish the performance of the state government from time to time.
Ememobong lauded newsmen for their response in making the briefing a success by honouring the invitation, saying the present administration will remain in partnership with the media in order to deliver the mandate entrusted to the governor by the Akwa Ibom people.
Others in attendance at the presentation were commissioners for Economic Development, Mr Emem Bob; Director of Budget of the state, Mr Otu Asuquo, Director General Fiscal Responsibility Board, among others.
