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Akwa Ibom State Governor Umo Eno has fully repaid outstanding loans totalling ₦39.831 billion inherited from the administration of former governor Udom Emmanuel.
The disclosure was made on Tuesday by the Commissioner for Finance and Coordinating Commissioner for Special Duties, Emem Bob, at a press briefing in Uyo.
He explained that ₦34.533 billion covered the principal sum, while ₦5.298 billion was accumulated interest.
Bob recalled that as of May 29, 2023, when Governor Eno assumed office, the state owed ₦34.533 billion as the remaining balance of a ₦79.496 billion commercial bank loan contracted by the previous administration.
He noted that, after review and negotiations, the current government completed repayment in November 2025.
He hinted that the administration has also tackled a backlog of gratuities inherited since 2012, paying ₦76.3 billion out of ₦110 billion and clearing outstanding payments up to March 2021.
This, he said, was achieved through disciplined financial management without affecting key services or ongoing projects.
The commissioner reaffirmed the governor’s commitment to avoiding commercial bank borrowing, instead prioritising reforms to boost internally generated revenue.
He listed initiatives such as the Akwa Ibom State Geographic Information System (AKWAGIS) for digital land administration and e-C of O, and the Digital Electronic IGR Platform (AKWAREMIT) to fully implement the Treasury Single Account.
According to him, these reforms aim to widen the revenue base, plug leakages and strengthen IGR.
