The governor of Akwa Ibom State, Umo Eno, has announced intentions to create a sinking fund to save money for the state’s future growth.

This was revealed by the governor on Monday when he opened a longer meeting of the State Executive Council to discuss the 2025 Appropriation Estimates.

In order to handle unanticipated projects and guarantee that monies are accessible for future generations, Governor Eno clarified that the sinking fund will be prudently set aside.

“I propose that the budget department consciously establish a sinking fund as part of our budget. This would guarantee that, for the sake of future generations, we start mandatory savings for projects that we might not immediately anticipate,” he stated.

The governor stressed that strengthening accountability and transparency in the budget implementation process depends on the three-day extended Exco session.

The meeting came after many Ministries and Departmental Agencies defended their recommended estimates before the Ministry of Economic Development, he continued.

“We will carefully review the recommendations in your budget presentations over the course of the next three days to make sure they support the objectives of the Arise Agenda. The goal is to make sure that their execution satisfies our people’s desires,” Eno stated.

He emphasised that the Executive’s vision should be reflected in the 2025 Appropriations Bill and cautioned that depending on antiquated provisions may backfire.

“I am committed to making sure that every kobo spent complies with the ARISE Blueprint because I came here to serve the people.” We should have a targeted, effective, and simplified Budget Estimate at the end of this process, which will be prepared for submission to the House of Assembly for their thoughtful review,” he continued.

Governor Eno also took advantage of the occasion to express gratitude to the Nigerian Union of Journalists’ national leadership for bestowing upon him the 2024 Media-Friendly Governor of the Year honour.

“This award speaks to the efforts of my media team,” he said, attributing the honour to their efforts. I give this honour to the Akwa Ibom media community in appreciation of their coverage of our initiatives and programs.

As you may remember, Eno was recognised at the 3rd NUJ Annual Milestone Recognition ceremony, which took place at the Airport Hotel in Ikeja. Senator Akon Eyakenyi, his deputy, represented him.