The Akwa Ibom State Government has signed into law a ₦1.584 trillion 2026 Appropriation Bill, signalling a strong commitment to infrastructure-led growth and expanded opportunities for small and medium-sized enterprises across the state.
Under the approved budget, 76 per cent is allocated to capital expenditure, while 24 per cent is set aside for recurrent spending. This capital-heavy structure reflects the administration’s focus on long-term economic development, job creation and the strengthening of productive sectors that directly support SME expansion.
The emphasis on capital projects is expected to improve key enablers for small businesses, including road networks, public facilities, economic hubs and power-related infrastructure. Improved infrastructure typically lowers operating costs for MSMEs, enhances access to markets, which also creates a more efficient environment for local enterprises to grow and scale.
The 2026 budget also reflects coordinated governance, with alignment between the Executive, Legislature, and Judiciary. This policy coherence is considered important for investor confidence and implementation stability, particularly for programmes tied to public infrastructure, procurement, and business support. For SMEs, such alignment improves predictability around government contracts, timelines, and support initiatives linked to public spending.
As the state moves into the 2026 fiscal year, the administration has emphasised urgency and accountability in budget execution. Faster implementation is expected to accelerate the flow of public funds into the real economy, creating direct and indirect opportunities for local MSMEs in construction, logistics, services, and supply chains connected to capital projects.
Overall, the capital-driven 2026 budget positions Akwa Ibom to use public investment as a catalyst for private sector activity. By prioritising infrastructure and development spending, the state is laying the groundwork for SME-led growth, employment generation, and a more resilient local economy in the year ahead.
