UYO, Nov. 12, 2026 – Akwa Ibom State has expanded its marketable securities portfolio to ₦47.2 billion and achieved annual savings exceeding ₦10 billion through digital payroll reforms and improved financial management, the state government has said.
The Commissioner for Budget and Economic Planning, Dr Linus Nkan, disclosed this during a ministerial briefing in Uyo, attributing the growth to deliberate efforts to strengthen the state’s investment base and improve fiscal efficiency.
Nkan said the state’s marketable securities portfolio increased from ₦17 billion in 2025 to ₦47.2 billion in 2026, while dividend collections rose to approximately ₦500 million during the current year.
He identified Champion Breweries and Tropicana as among the state-linked enterprises that had commenced dividend payments.
On budget performance, the commissioner said the 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 Commissioner for Finance, Mr Emem Bob, disclosed that the administration had repaid ₦39.83 billion in inherited commercial bank loans and disbursed ₦111 billion towards outstanding gratuity obligations, leaving approximately ₦11 billion unpaid.
Bob also said the state generated ₦9.7 billion through the State Action on Business Enabling Reforms programme.
He added that the Ministry of Finance Incorporated had grown its investment portfolio from ₦6 billion to ₦11.19 billion, generating estimated annual returns of between ₦470 million and ₦500 million.
The state has also invested ₦16 billion in Anchor Insurance and provided ₦386 million in loans to 429 civil servants.
Meanwhile, Commissioner for Science and Digital Economy, Mr Frank Ekpenyong, said digitalisation of government operations had helped identify payroll irregularities and establish a more reliable personnel database, translating into annual savings estimated at over ₦10 billion.
He said the digital payroll platform now enables civil servants to access salary information, monitor deductions and verify their employment records.
The state’s digital ticketing system has also generated ₦44.9 million from 201,889 tickets sold.
In the social investment sector, Nkan said 16,950 residents received ₦10,000 cash transfers under the Nigeria COVID-19 Action Recovery and Economic Stimulus programme, while 76 rural roads and 118 micro-projects were delivered, benefiting 153,288 residents.
He further disclosed that 23,535 students across 131 tertiary institutions had received the state’s ₦50,000 bursary.
The Commissioner for Information, Dr Aniekan Umanah, said the administration of Governor Umo Eno remained committed to strengthening public finances, meeting inherited obligations and expanding the state’s economic opportunities.
