Governor Umo Eno’s Administration Receives N266.6bn Revenue in Three Months (January -March 2024)

 

… As Governor, Accountant General’s Offices Together Spend N23.08bn in Three Months

 

 

By Ekemini Simon

 

The administration of Governor Umo Eno has received a revenue of N266.6bn in the last three months of his administration. This, the analysis of the 2024 first quarter (January -March 2024) budget performance report has shown.

 

Analysis of the report which is published by the Akwa Ibom State Budget Office shows that the biggest bulk of the revenue came from Government Share of Federation Account Allocation Committee (FAAC) which amounted to N132.93bn. This was followed by the opening balance from 2023 revenue amounting to N111.43bn while the Internally Generated Revenue for the quarter is N22.23bn.

 

The report shows that within the period, the Government of Akwa Ibom State made expenditure of N90.45bn leaving a balance of N176.14bn for the second quarter of 2024 out of the N266.6bn revenue. The breakdown shows that priority was given to recurrent expenditure as it amounted to N46.85bn while capital expenditure got N43.6bn.

 

See Also

Further analysis of the total expenditure by administrative classification reveals that besides the Ministry of Works which is responsible for road projects enjoying a total release of N26.01bn, the Office of the Governor and the Office of the Accountant General curiously emerged among the top spenders.

 

Within January and March 2023, both offices spent a total of N23.08bn. The breakdown from the report shows that the Office of the Accountant General spent N15.49bn while the Office of the Governor spent N7.59bn for its personnel, overhead and capital expenditure.

 

Notable Ministries, Departments and Agencies that surprisingly had total zero releases were the Akwa Ibom State Primary Healthcare Development Agency and State Secondary Education Board.

 

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