The Akwa Ibom State House of Assembly, has passed a supplementary appropriation bill of N695 billion for the 2025 fiscal year, following the adoption of the report presented by the House Committee on Finance and Appropriation.
Presenting the committee’s report, during Tuesday’s plenary, presided over by the Speaker, Rt. Hon. Udeme Otong, the Chairman, Hon. Itorobong Etim, explained that the supplementary budget would be financed through various revenue sources, including statutory allocation, internally generated revenue, derivation funds, 13% derivation arrears, signature bonuses, exchange gains, and value-added tax (VAT), among others.
According to the report, the N695 billion supplementary budget comprised N125.66 billion for recurrent expenditure and N569.33 billion for capital expenditure, bringing the revised total budget size for 2025 to N1.65 trillion. The new figure includes N425.66 billion for recurrent services and N1.22 trillion for capital expenditure. The original 2025 budget of N955 billion was passed by the Assembly in December 2024.
The Legislature noted that the supplementary budget aims to strengthen ongoing government projects and programmes across critical sectors such as education, healthcare, infrastructure, sports, and other developmental initiatives, in line with the administration’s economic priorities.
In a related development, the Assembly also approved adjustments to the 2025–2027 Medium Term Expenditure Framework (MTEF) following the consideration of a report by the House Committee on Economic Planning and Development, chaired by Hon. Nsidibe Akata, who is also the Deputy Leader of the Assembly. The revised MTEF provision now stands at N1.7 trillion, up from the previously approved N980 billion.
Hon. Akata explained that the review became necessary due to positive changes in fiscal indicators and improved revenue inflow. He disclosed that while the approved MTEF projection for 2025 revenue was N980 billion, actual revenue collections between January and July 2025 amounted to N1.115 trillion, reflecting a surplus. The House thereafter adjourned plenary to Tuesday, October 14, 2025.
