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Nkan Defends ₦1.39 Trillion 2026 Budget, Says Capital Investment Will Drive Real Growth

 



By Asuquo Edem 


The Akwa Ibom State Commissioner for Budget and Economic Planning, Mr. Linus Nkan, on Tuesday delivered an extensive defence of the 2026 Appropriation Bill during a Public Hearing of the House Committee on Finance and Appropriation held at Luton Park Hotel. 

Addressing lawmakers, civil society representatives and development stakeholders, the Commissioner broke down the fiscal proposal and explained why the administration is taking a deliberately investment-heavy route in the coming year.

Nkan reaffirmed that the total size of the 2026 budget stands at ₦1.390 trillion, a figure he described as both “ambitious and realistic” given current revenue indicators and development needs. He explained that the proposal allocates ₦1.035 trillion to capital expenditure, leaving ₦354.8 billion for recurrent obligations. According to him, the overwhelming shift toward capital spending underscores the Governor’s resolve to channel resources into projects that expand economic infrastructure, improve social services and stimulate long-term economic productivity.




The Commissioner disclosed that the budget’s sectoral spread reflects the outcome of the recently concluded Town Hall meetings across the state’s constituencies. He noted that a significant chunk of the capital envelope is directed to infrastructure development, with ₦387.5 billion projected for roads, bridges and related works across urban and rural communities. He added that the administration is strengthening the health sector with a planned ₦136.1 billion investment, while education is set to receive ₦31.6 billion to support school upgrades, teacher development and learning facilities.


Nkan stressed that the 2026 fiscal plan is anchored on the state’s Medium-Term Expenditure Framework, guided by realistic revenue forecasts and a commitment to avoid waste. He maintained that the government’s approach would deepen rural economic participation, expand MSME support systems and further consolidate Governor Umo Eno’s economic development blueprint, especially in agriculture, healthcare access and infrastructure renewal.


He also assured the Committee that the budget was designed with prudence and transparency in mind, emphasising that every figure presented had been carefully reviewed to ensure alignment with the state’s financial capacity. Nkan called for continuous collaboration between the executive, legislature and the public, insisting that participatory budgeting remains central to the administration’s governance philosophy.


The Speaker of the House of Assembly Elder Udeme Otong who was represented by the House Leader, Rt. Hon. Otobong Bob commended the clarity of his submission and promised rigorous scrutiny to ensure that the final Appropriation Law reflects the priorities and expectations of Akwa Ibom people.


 Stakeholders present also made contributions, urging improved monitoring of capital projects and stronger revenue efficiency in the new fiscal year.


Also present at the hearing were the Chairman, House Committee on Finance and Appropriation, Dr. Itorobong Etim and other members of the Committee the commissioner for Finance Mr. Emem Bob, representative of the Attorney General and Commissioner for Justice, members of Civil Societies, State Chairman of NLC among other stakeholders. 

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