Nigeria, April 29 -- Akwa Ibom State Government expended N201.73 billion within the first three months of 2026, according to the state's First Quarter Budget Performance Report of 2026, a document that once again exposes the administration's opaque approach to financial reporting.

The report, reviewed by PREMIUM TIMES, shows that the government received a total revenue of N163.26 billion between January and March, comprising N139.57 billion from the Federation Account Allocation Committee (FAAC), N23.59 billion in internally generated revenue, and N100 million under capital development fund receipts.

With an opening balance of N234.25 billion carried over from 2025, the state had N397.51 billion in revenue available for spending.

Out o...