…more Ministries render scorecard to journalists
Akwa Ibom State has paid ₦39.831 billion in inherited commercial bank loans, grown its marketable securities portfolio to ₦47.2 billion and recorded estimated annual savings of over ₦10 billion through payroll reforms, highlighting the administration’s efforts to strengthen public finances and expand the state’s economic base under Governor Umo Eno.
The developments formed part of the scorecards presented by commissioners and heads of government agencies during the ongoing ministerial media briefing in Uyo, which also highlighted improvements in revenue collection, investment management, student support and digital governance.
Commissioner for Finance, Mr Emem Bob, disclosed that the administration had settled ₦39.831 billion in inherited commercial bank loans and paid ₦111 billion in gratuity arrears, leaving about ₦11 billion outstanding. He said the Governor had promised to clear the remaining liability.
The Commissioner also revealed that the state had earned ₦9.7 billion through the State Action on Business Enabling Reforms (SEBA) programme, while the investment portfolio of Ministry of Finance Incorporated had increased from ₦6 billion to ₦11.193 billion, generating annual returns estimated at between ₦470 million and ₦500 million.
He further disclosed that the state had provided ₦386 million in loans to 429 civil servants and invested ₦16 billion in Anchor Insurance to strengthen the state-owned company.
On budget performance, the Commissioner for Budget and Economic Planning reported that the state’s 2025 budget recorded 84.4 per cent implementation based on actual revenue, while the 2026 budget achieved 64.6 per cent performance between January and September.
The Budget Commissioner also highlighted interventions under the Nigeria COVID-19 Action Recovery and Economic Stimulus programme (AK-CARES), including ₦10,000 cash transfers to 16,950 residents, the rehabilitation of 76 rural roads and 118 microprojects benefiting 153,288 residents.
The state’s investment outlook featured prominently in the presentation by the Akwa Ibom Investment Corporation (AKICORP), which reported that the marketable securities portfolio had grown from ₦17 billion in 2025 to ₦47.2 billion.
Dividend collections also rose to approximately ₦500 million within the current year, with the corporation identifying Champion Breweries and Tropicana among enterprises that had begun paying dividends.
MD of AKICORP, Pastor ImoAbasi Jacob, further highlighted efforts to reposition state-owned businesses and attract private capital, including a proposed investment of over $122 million by a new investor to revive the St Gabriel’s Coconut Factory and reposition it for large-scale production.
The corporation also outlined investment opportunities linked to the state’s gas and industrial development plans, including the Ibom LNG and Logistics Hub, in which Akwa Ibom holds a five per cent equity stake, as well as the proposed ammonia fertiliser plant at Ikot Abasi.
Digital reforms were another major feature of the briefing, with the Ministry of Science and Digital Economy reporting that payroll verification had exposed irregularities and helped establish a cleaner database, resulting in estimated annual savings of over ₦10 billion.
The Commissioner, Dr Frank Ekpenyong said civil servants could now access their payroll information, view deductions and verify themselves through a digital platform, while payroll officers had been equipped to submit salary-related variations electronically rather than through the previous paper-based process.
The state’s digital ticketing platform had also generated ₦44.9 million from 201,889 tickets sold as of the close of business on the day preceding the presentation, while the internet service at Victor Attah International Airport recorded 8,011 unique users and 5.8 terabytes of data consumption since its activation in August.
In education, the ministry reported that 23,535 students had received the state’s ₦50,000 bursary across 131 institutions, with beneficiaries drawn from all 31 local government areas. The presentation also highlighted special financial support for students living with disabilities, with undergraduates receiving ₦250,000 and postgraduate students ₦300,000.
The state’s Command and Control Centre was also showcased as part of the digital infrastructure drive. The facility is equipped with 250 cameras, including 50 number-plate recognition cameras and 200 standard surveillance cameras, designed to operate round the clock under the management of the Ministry of Internal Security.
The presentations anchored by the Commissioner for Information, Dr. Aniekan Umanah, point to a broad effort by Gov Eno’s administration to address inherited financial obligations, strengthen the state’s investment base, improve revenue accountability and expand economic opportunities, while using technology to make public services more accessible and government operations more efficient.
