Akwa Ibom’s Revenue Explosion: Progress Or Transparency Gap?
A Historic Revenue Upswing
AKWA Ibom State has witnessed an unprecedented fiscal upswing under Governor Umo Eno, recording over ₦2.53 trillion in revenue within 32 months of his administration.
Official data drawn from audited accounts, budget performance reports, and FAAC allocations confirm that the state’s earnings between May 2023 and December 2025 exceed the total revenue accumulated during the eight-year tenure of Udom Emmanuel and the closing months of Godswill Akpabio.
The scale of the increase signals a structural shift in revenue flows, largely driven by improved oil receipts, derivation payments, and federal allocations.
Revenue Composition and Trajectory
The fiscal trajectory reveals steady acceleration. In 2024, the state generated ₦1.110 trillion. In 2025, revenue climbed further to ₦1.134 trillion. Combined with ₦286.7 billion realised during Mr. Eno’s first eight months in office, total inflows reach ₦2.53 trillion.
FAAC disbursement records show allocations of ₦24.27 billion and ₦21.97 billion for May and June 2023 respectively, excluding derivation refunds exceeding ₦200 billion across the two months.
For context, total revenue from January 2015 to April 2023 stood at ₦2.45 trillion. The new figure exceeds that amount by roughly ₦8 billion, underscoring the magnitude of recent inflows.
Escalating Expenditure and Limited Disclosure
Revenue growth has been matched by high expenditure levels. Between July 2023 and December 2025, total spending reached ₦2.25 trillion, including ₦1.330 trillion in 2025 alone.
However, detailed expenditure breakdowns remain elusive. Budget performance reports for 2025 follow a summarised format that omits granular information about capital projects, sectoral allocations, and programme-specific spending.
This reporting pattern has drawn criticism, particularly in light of provisions in the state’s Fiscal Responsibility Law mandating transparent disclosure. Comparative assessments indicate that some other Nigerian states publish more detailed quarterly reports.
Comparative Fiscal Weight
The scale of Akwa Ibom’s 2025 spending is significant in national context. The ₦1.330 trillion reported expenditure exceeds the combined annual spending of Abia, Cross River, Ebonyi, and Kebbi states.
Such fiscal weight underscores Akwa Ibom’s strategic importance as one of Nigeria’s highest-earning oil-producing states. It also heightens the imperative for robust accountability mechanisms.
The Policy Question Ahead
The central question confronting policymakers and citizens alike is how effectively the ₦2.53 trillion has translated into tangible development outcomes.
Revenue expansion presents opportunities for infrastructure upgrades, job creation, energy development, and human capital investment. Yet sustainable growth depends not merely on inflows but on disciplined fiscal governance.
As the administration moves into 2026, public scrutiny is expected to intensify around transparency standards, debt management, and long-term fiscal sustainability.
Akwa Ibom’s revenue boom marks a defining chapter in its economic history. Whether it becomes a model of fiscal transformation or a case study in opaque governance will depend on how the state reconciles record-breaking earnings with the demands of accountability.
