RismadarVoice Reporters
June 2, 2026
Akwa Ibom State Government has commenced the review of its Economic and Financial Updates (EFUs) as part of preparations for the development of the 2027–2029 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) aimed at strengthening fiscal planning and sustaining the implementation of the state’s development agenda.
The process was formally launched on Monday with the inauguration of the 2027–2029 MTEF/FSP Review Committee by the Commissioner for Budget and Economic Planning, Dr Nsikan Linus Nkan, at the ministry’s conference room in Uyo.
Speaking at the inauguration, Dr Nkan described the exercise as a critical component of the state’s budgeting process, noting that the framework would guide government spending, revenue projections, and development priorities over three years.
According to him, the MTEF/FSP serves as a strategic planning instrument that enables government to allocate resources efficiently, prioritise expenditure, and ensure fiscal sustainability.
He explained that the 2027–2029 framework is particularly significant because it spans the final years of the current administration’s first term and the beginning of its second term, making continuity and sustainability essential considerations in the planning process.
“The 2027–2029 MTEF/FSP cuts across two tenures of government, covering the end of the first term and the beginning of the second term of this administration. It is therefore imperative that our planning framework reflects continuity, sustainability, and the developmental priorities of government,” he said.
The commissioner emphasised that Governor Umo Eno’s ARISE Agenda remains the cornerstone of the state’s development strategy and should guide the review process.
He urged members of the committee to ensure that all proposed programmes, projects, and expenditure priorities align with the administration’s objectives in areas such as economic growth, human capital development, rural transformation, infrastructure expansion, security, and inclusive prosperity.
Dr Nkan outlined the committee’s responsibilities to include reviewing the existing MTEF/FSP framework and operational processes, assessing the effectiveness of the current budgeting system, identifying emerging fiscal risks, and proposing mitigation strategies.
The committee is also expected to consider contributions from Ministries, Departments and Agencies (MDAs), civil society organisations, and development partners while recommending measures to strengthen and simplify the fiscal framework.
He stressed the importance of completing the assignment within the timelines specified in the state’s budget calendar, noting that the outcome would provide a solid foundation for future budgeting and fiscal management.
The commissioner commended Governor Umo Eno for approving and supporting the review process, describing the move as evidence of the administration’s commitment to transparency, accountability, and evidence-based governance.
“In line with the responsibility entrusted to us, we must deliver a framework that supports the realisation of government priorities and enhances the efficient utilisation of public resources for the benefit of our people,” he added.
At the event, Dr Nkan formally inaugurated the review committee with Mr Ottobong Sambo, representing the Permanent Secretary of the Ministry of Budget and Economic Planning, serving as chairman.
Other members were drawn from key state institutions, including the Fiscal Responsibility Board, State Budget Office, Debt Management Office, Bureau of Statistics, Ministry of Finance, Akwa Ibom State Internal Revenue Service, Accountant General’s Office, Governor’s Office, and relevant departments within the Ministry of Budget and Economic Planning.
Speaking on behalf of the committee, members pledged to apply their expertise in developing a comprehensive and forward-looking fiscal framework capable of supporting the ARISE Agenda and sustaining the state’s development trajectory.
The inauguration marks the beginning of a series of consultations and technical reviews that will shape Akwa Ibom State’s fiscal direction from 2027 to 2029.
