The Akwa Ibom Government reports its marketable securities portfolio has reached ₦47.2 billion, with estimated annual savings of over ₦10 billion from payroll reforms.
Dr Linus Nkan, the Commissioner for Budget and Economic Planning, disclosed this during the ministerial briefing in Uyo on Wednesday.
Nkan stated that the marketable securities portfolio increased from ₦17 billion in 2025 to ₦47.2 billion in 2026.
He noted the 2025 budget achieved 84.4 per cent implementation based on actual revenue, while the 2026 budget reached 64.6 per cent performance from January to September.
He said that under the Nigeria COVID-19 Action Recovery and Economic Stimulus programme (AK-CARES), interventions included ₦10,000 cash transfers to 16,950 residents, rehabilitation of 76 rural roads, and 118 micro projects. Nkan added that dividend collections rose to about ₦500 million this year, with Champion Breweries and Tropicana among the enterprises now paying dividends. gun paying dividends.
The Commissioner for Finance, Mr Emem Bob, stated that the administration has settled ₦39.83 billion in inherited commercial bank loans and paid ₦111 billion in gratuity arrears, with about ₦11 billion outstanding.
Bob said that Governor Umo Eno has pledged to clear the remaining liability. He said that the state had earned ₦9.7 billion through the State Action on Business Enabling Reforms (SEBA) programme.
He added that the Ministry of Finance Incorporated’s investment portfolio increased from ₦6 billion to ₦11.19 billion, generating estimated annual returns of ₦470 million to ₦500 million.
The commissioner further disclosed that the state provided ₦386 million in loans to 429 civil servants and invested ₦16 billion in Anchor Insurance to strengthen the state-owned company.
The Commissioner for Information, Dr Aniekan Umanah, stated that Eno’s administration is committed to addressing inherited financial obligations and strengthening the state’s investment base.
Umanah addeUmanah added that digital reforms in state governance aim to make public services more accessible and government operations more efficient. The Commissioner for Science and Digital Economy, Mr Frank Ekpenyong, said the digital reforms over the last three years exposed irregularities, especially in the payroll.
Ekpenyong said the reforms established a cleaner database, resulting in estimated annual savings of over ₦10 billion.
“Civil servants can now access payroll information, view deductions, and verify themselves through a digital platform.
“The state’s digital ticketing platform has generated ₦44.9 million from 201,889 tickets sold as of the close of business on the day before the presentation,” he said. Students have received the state’s ₦ 50,000 bursary across 131 institutions, with beneficiaries drawn from all 31 local government areas of the state.
