Akwa Ibom's revenue reaches N3.218 trillion in 41 months under Eno

The Akwa Ibom State Government has received at least N3.218 trillion in public revenue during the first 41 months of Governor Umo Eno's time in office. This increase in funds comes even though there are ongoing worries about the government not sharing clear spending records.

An analysis of the state’s third-quarter 2026 Budget Performance Report shows that Akwa Ibom got N284.37 billion from July to September 2026.

This new amount, added to the N2.934 trillion reported earlier by PREMIUM TIMES for the period from May 2023 to June 2026, brings the total revenue during Eno’s administration to N3.218 trillion.

Mr Eno began his term on 29 May 2023.

The latest report reveals that N275.37 billion of the revenue for the third quarter came from regular income. This includes N250.61 billion from the state’s share of the Federation Account Allocation Committee (FAAC) and N24.76 billion from internal sources.

The state also got N9 billion in Capital Development Fund receipts, which are from loans. This means the total revenue for the quarter is N284.37 billion.

These figures show a big rise in the financial resources available to Mr Eno’s government since he took over.

Expenditure in third quarter

Despite the large inflow of revenue, the state government reported total spending of N87.2 billion during these three months.

When we look closely at the spending, we see that salaries, pensions, and gratuities took N36.25 billion. Another N19.7 billion was spent on other regular expenses, while N31.25 billion went to capital projects.

The numbers show that personnel costs and other regular expenses together took N55.95 billion, which is more than the reported capital spending of N31.25 billion in the quarter.

However, the report does not give a detailed breakdown of where the revenue came from or how much each ministry, department, and agency contributed to the state’s finances.

It also does not show how much was spent on individual projects or which ministries and agencies were responsible for them. There is no information on the performance of these bodies to help people assess government priorities.

Continuing concerns over fiscal transparency

The latest report raises new worries about the quality of financial details shared with the public.

Even though the government published an eight-page report on the third quarter budget performance, only five pages had real information. The other three pages were blank.

This lack of information comes after PREMIUM TIMES found that the Eno administration has been giving less financial detail in its public records.

In July, PREMIUM TIMES said that the administration had received at least N2.934 trillion in its first 38 months but stopped publishing detailed records of capital spending. This makes it hard for citizens to track how money is spent on projects and government programs.

The newspaper also found that the state’s audited financial statements for 2023, 2024, and 2025 did not include detailed schedules for capital expenditures.

Similarly, budget performance reports from the first quarter of 2025 to the second quarter of 2026 missed out on detailed capital expenditure information.

In an earlier investigation published in January, PREMIUM TIMES found that Akwa Ibom had moved deeper into fiscal secrecy under Mr Eno. The government has not provided the financial details required by the state's fiscal responsibility rules.

Before, the state published more detailed quarterly budget reports, sometimes more than 40 pages long. These reports allowed people to see revenue and spending across ministries and programs.

The reduced level of disclosure limits how citizens, civil society groups, and journalists can check how public resources are spent.

The Akwa Ibom State Fiscal Responsibility Law says the government must handle its financial matters openly and publish all transactions involving public revenue and spending clearly and quickly.

With the latest figures, the administration’s total revenue has crossed N3.2 trillion. But the lack of detailed financial records makes it hard to know how much has been spent on specific projects and programs in the state.