By Ogenyi Ogenyi, Uyo
The Akwa Ibom State Government says it has cleared N39.831 billion in commercial bank debts inherited from previous administrations.
State Commissioner for Finance, Emem Bob, disclosed this while briefing journalists in Uyo. He said the figure covers both the principal and accumulated interest on the loans. Bob did not specify when the debts were incurred but attributed the repayment to fiscal discipline and prudent financial management under Governor Umo Eno. He added that the current administration has not taken new loans since assuming office, though it is not opposed to borrowing when necessary.
According to the commissioner, the state has achieved over 85 per cent budget performance by implementing only approved and budgeted programmes.
He also said the government has reduced the backlog of gratuities owed to retired state workers from N110 billion to N80 billion as of December 2025.Bob further disclosed that repayments are ongoing on the Afrexim credit facility to Ibom Power, with $3.17 million paid out of $7.81 million owed, adding that payments are made quarterly.
Commissioner for Information, Aniekan Umanah, said the implementation of the Treasury Single Account (TSA) has strengthened financial governance, improved transparency and enhanced revenue collection in the state.
