Mkpoikana Udoma
Port Harcourt — Akwa Ibom State Governor, Pastor Umo Eno, has presented a N1.39 trillion Appropriation Bill for 2026 to the State House of Assembly, anchoring the spending plan on aggressive economic expansion, infrastructure delivery and job creation.
Christened “The People’s Budget of Expansion and Growth,” the proposal allocates N1.035 trillion (75%), to capital projects, one of the highest capital-to-recurrent ratios in the country, aimed at stimulating productivity across sectors.
Governor Eno said the budget was intentionally structured to “deepen the ARISE Agenda and accelerate broad-based development,” stressing that heavy investment in capital projects would drive rural development, food security, tourism, energy transition, MSME growth and improved service delivery.
“For 2026, N354.8 billion (25%) is allocated to recurrent expenditure, while N1.035 trillion (75%) goes to capital projects, an intentional move to stimulate growth, boost economic activity, and create jobs across the state,” he told lawmakers.
He explained that the state plans to finance the capital vote through transfers from the Consolidated Revenue Fund and additional capital receipts.
“The total Capital Receipts and Expenditure for 2026 is estimated at N1.035 trillion. Of this figure, N791.978 billion will be transferred from the Consolidated Revenue Fund, while N243.155 billion is expected from other capital receipts,” the governor stated.
Governor Eno highlighted priority sectors including infrastructure, education, healthcare, tourism, renewable energy and environmental sustainability, emphasising that each component was selected based on measurable impact on livelihoods and economic growth.
He added that federal economic reforms had improved state revenue prospects.
“I appreciate President Bola Ahmed Tinubu for reforms that have increased resources available to states,” he said. “We remain committed to prudent, transparent management of public funds and to delivering on every promise under the Arise Agenda.”
The 2026 budget now awaits legislative consideration and approval.
