The Akwa Ibom State Government raked in a whopping N118,253,725,190.45 billion from internally generated revenue in five years.
A breakdown shows that the government generated N18,730,338,859.70 in 2015; N16,290,953,095 in 2016; N19,513,860,604.75 in 2017; N28,213,636,273 in 2018 and N35,504,936,358 in 2019.
This is contained in a publication entitled: Annual Report of the Accountant General with Audited Financial Statements for the 2019 signed by Pastor Uwem S. Andrew-Essien, the state Accountant-General.
Meanwhile, the state government spent N470,875,375,765.32 billion on Recurrent Expenditure in four years from 2016 to 2019.
A breakdown shows that the government spent N100,330,937,358.02 in 2016; N112,884,092,865.07 in 2017; N130,579,922,644.72 in 2018; and N127,080,422,897.51 in 2019.
“A total of N34,863,742,268 was spent on Personnel Cost in 2016; N37,580,564,289.32 in 2017; N43,827,604,631 in 2018 and N41,779,253,979 in 2019.
“A total of N9,226,990,027 was spent on Overhead Cost in 2016; N17,187,538,286 in 2017; N13,703,592,010 in 2018; and 13,057,691,956 in 2019.
“A total of N46,046,086,264.54 on Consolidated Revenue Fund Charges in 2016; N49,351,870,289.75 in 2017; N65,129,506,003.72 in 2018 and N63,071,821,889.12 in 2019.
“A total of N10,194,118,798.48 on Recurrent Grants & Subvention in 2016; N8,764,120,000 in 2017; N7,919,220,000 in 2018; and N9,171,655,073.39 in 2019.”
Under Capital Expenditure during the same period, the government spent N32,268,634,359 on Administrative Sector in 2016; N31,101,954,710 in 2017; N33,184,271,802 in 2018; N57,252,322,555 in 2019.
In the Economic Sector, the government expended N55,059,953,145.36 in 2016; N77,592,759,372.58 in 2017; N122,532,000,457.20 in 2018 and N129,130,162,037.72 in 2019.
Under Law and Justice Sector, the government spent N608,953,470 in 2016; N1,137,272,090 in 2017; N1,496,288,350 in 2018 and N3,210,400,000 in 2019.
Under Regional Sector, it spent N60,750,000 in 2016; N221,988,448 in 2017; N375,055,439 in 2018 and N49,500,000 in 2019.
“A total of N4,307,645,523.84 in the Social Sector in 2016; N7,036,004,358 in 2017; N10,582,747,966 in 2018 and N8,190,208,000 in 2019,” the report stated.
