The Akwa Ibom State Government has rejected a recent report by Premium Times on the State’s revenue profile, saying the analysis ignored basic economic realities and presented figures in a misleading manner.
In a statement issued on Tuesday, the government said the report relied on nominal revenue comparisons across different periods without accounting for inflation, currency depreciation, exchange rate movements, and changes in development outcomes. It argued that such an approach distorted the true picture of public finance and governance in the State.
According to the government, revenue figures from earlier years were compared with more recent data without adjusting for the steep decline in the value of the naira and the rising cost of goods and services. It noted that the naira had weakened significantly over the period under review, with purchasing power sharply reduced despite higher headline revenue numbers.
The government said meaningful fiscal assessment must focus on real value, spending efficiency, institutional capacity, and visible outcomes rather than raw figures. It added that presenting unadjusted numbers for dramatic effect did not amount to serious economic analysis.
Responding to suggestions of underperformance, the administration said it would not engage in value based comparisons with past governments, stressing that each administration operated within the constraints and opportunities of its time. It described attempts to frame such comparisons as politically motivated and unhelpful.
The statement emphasised that the State had published its financial accounts for 2023 and 2024 and made details of ongoing and completed projects available for public scrutiny. This, it said, reflected a commitment to transparency and accountability.
Under the leadership of Umo Eno, the government said it was implementing the ARISE Agenda through a wide range of projects across all local government areas. These include model schools and primary healthcare centres, alongside eighty five major priority projects covering tourism, healthcare, infrastructure, security, aviation, maritime development, housing, commerce, and education.
It cited developments such as the ARISE Palm Resort, which it said had transformed a large erosion site into a business and leisure destination, as well as progress on the Ibom International Hospital, multiple healthcare centres, and key governance and security facilities.
Other projects listed include investments in aviation infrastructure, hospitality facilities, mass transit, housing schemes, markets, sports development, industrial parks, correctional and medical facilities, and maritime transport infrastructure. The government also reported extensive road construction, bridge projects, erosion control works, and rural access roads across the State.
In the social sector, the administration said it had made significant progress in clearing a large backlog of gratuities inherited from previous years, while also implementing a new minimum wage and maintaining regular salary payments. It added that citizen welfare programmes had delivered housing for vulnerable groups, food support for hundreds of thousands of households, and large scale empowerment initiatives.
The government maintained that these outcomes were verifiable and measurable, and should form the basis of any fair assessment of governance in Akwa Ibom State. It concluded that it would remain focused on service delivery, institutional strengthening, and inclusive development, rather than responding to what it described as arithmetic driven narratives without economic context.
