March 02, (THEWILL) — The Government of Akwa Ibom State has announced significant progress in resetting its financial management landscape, with major debt clearance, pension payment reforms, and strengthened revenue systems, the Commissioner for Finance, Mr Emem Almond Bob, said on Monday, March 2, 2026.
Speaking at the State’s monthly media briefing in Uyo, Mr Bob highlighted that the administration had fully cleared all inherited commercial bank debts, amounting to ₦39.831 billion, including principal and interest.
“We have also deliberately reduced the gratuity backlog of retired state staff from ₦110 billion to ₦80 billion as at December 2025”, he said, noting that prompt payment of salaries and pensions has been ensured across all Ministries, Departments and Agencies (MDAs).
The Commissioner added that the government’s investments had generated returns of ₦260.646 million as of June 2025, while the portfolio increased from ₦6 billion to ₦10 billion, even as annual financial statements are now prepared, presented, and published in line with international best practices for fiscal transparency.
Fiscal reforms have extended to debt management, procurement, and verification exercises. Mr Bob stated that staff and pensioners verification exercises eliminated over 3,000 ghost workers and created opportunities for new employment.
“Public procurement processes are now audited and aligned with accepted standards, while capacity-building programmes have been conducted for staff to ensure sustainable procurement.
“Full implementation of the Treasury Single Account (TSA) has ensured that all internally generated revenue from MDAs flows through the AkwaRemit Platform into the State TSA, providing a reliable base for funding government programmes, including the ARISE Agenda”, Mr Bob explained.
The briefing also outlined international partnerships and interventions, including securing US$3.585 million from the State Action for Business Enabling Reform (SABER) to improve ease of doing business, and a €500,000 drawdown from NEWMAP for flood-prone areas and erosion control.
“Additionally, ₦321.8 million has been disbursed as staff housing loans to 212 civil servants, while ongoing repayment of Afrexim credit to Ibom Power has continued quarterly, adding that the financial base also supports the operations of Ibom Air.”
Mr Bob said that adherence to budget discipline has improved performance, with over 85 percent of the budget executed as planned, and citizens’ participation has increased in shaping budget priorities. Contractors for both inherited and ongoing projects are being paid promptly, and the government begins each new financial year with a substantive opening balance.
“The financial management landscape of the State has been repositioned to continue sourcing, custody, and funding the ARISE Agenda programmes and other activities”, Mr Bob concluded, saying that the briefing underscores the administration’s emphasis on fiscal responsibility, transparency, and efficiency as it seeks to sustain long-term development initiatives across Akwa Ibom State.
