Akwa Ibom Govt Gets N653.6bn Revenue in First Three Months of 2025, Publishes Incomplete BPR
By Ekemini Simon
The Government of Akwa Ibom State has received into its purse N653.6bn revenue in the first three months of 2025. This, analysis of the First Quarter Budget Performance Report of the State has shown.
According to the report which is published by the government of Akwa Ibom State covering between January through March 2025, the state government had a 2025 opening balance of N375.69bn brought forward from the revenue remnant of the 2024 fiscal year.
The report shows that the revenue stream of the State from Government share of Federation Account Allocation Committee (FAAC) was N261.56bn while the revenue from the Internally Generated Revenue was N16.31bn.
The total revenue of N653.6bn within the first three months of the 2025 fiscal year is 68.4 percent of the State’s expected revenue of N955bn in the entire year, thus pointing to a possible reviewed budget before the end of the year due to high revenue inflow.
The report further showed that out of the N653.6bn revenue, the government of Akwa Ibom State spent N199.6bn. The report breakdown shows that out of the expenses made, N65.73bn went to recurrent expenses while N133.9bn went to capital expenditure.
Further analysis of the report revealed that since the Government of Akwa Ibom State started publishing its Budget Performance Report, this is the first time the report was lacking in basic details such as breakdown of various sources of revenue from FAAC and Internal Sources.
The report also did not capture the breakdown of personnel, overhead and capital expenditure based on administrative function, economic function among others.
The report was only a 3-pager report against other Budget Performance Reports which usually has details up to 40 pages or more.
The Government of Akwa Ibom State has not given reasons why they publish an incomplete report. TheMail Newspaper had severally put a call to the Head of Budget Office, Mr. Asuquo Otu and the Commissioner for Budget and Economic Planning, Mr. Linus Nkan for clarification. None responded to the several calls spanning four days.