By Victor Essang
UYO
Akwa Ibom governor has restated that the state has maintained a debt-free record for two years through prudent management of public funds, even as it continues to deliver landmark projects.
Pastor Umo Eno, who stated this, Monday, while inaugurating the fourth cohort of the Entrepreneurship Accelerator Programme, (EAP), which took place at the Ibom-LED Complex in Uyo, disclosed that his administration has not taken any bank loans since assuming office.
“In the last two years, we have not gone to the bank to borrow money, not because borrowing is not good, but because there has been no need for it,” the governor said.
Eno added, “We have executed projects across the State, and we challenge any other State to show what they have done. We will roll out our achievements. It is all because we are prudent.”
The governor revealed that he had just signed a supplementary budget of N1.6 trillion, with the budget backed up by cash already for projects, describing it as unprecedented in Akwa Ibom’s history.
Eno attributed the administration’s ability to fund projects without borrowing to a firm stance against inflated contracts, especially in road construction. He maintained that traditionally a source of cost overruns in government spending.
According to him, “Contractors now know we scrutinise every quotation and match it with our own quantity surveyors. That is how we save money for Akwa Ibom people.”
He explained that part of the savings has been channelled into small business support and skills development, helping residents to expand their trades.
Citing success stories, Eno said some beneficiaries of the state’s start-up grants had used N500,000 each to buy sewing machines, palm kernel crackers, or farm equipment, while others had grown their small trading ventures.
Recounting his humble background, the governor said his administration was focused on standing up for the less privileged.
“Before I became governor, I made up my mind that if God gave me the chance, I would speak up for people like you,” he said, adding, “We’re not just throwing money away; we’re investing to let the poor breathe.”
The governor, who admonished the beneficiaries of the EAP, to see the empowerment as a lifeline, said, “You are fortunate to be in a State that is not only training you as entrepreneurs but also providing a seed capital to start your journey. Do not take it for granted or treat it as an entitlement. The N500,000, that you would be given can transform your life if managed with discipline.
“Ibom-LED is here to guide you on how to utilise that seed money to start or grow your business,” Governor Eno stressed.
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