A PRESENTATION BY THE CENTER FOR HUMAN RIGHTS & ACCOUNTABILITY NETWORK (CHRAN), AT THE PUBLIC HEARING ON 2026-2028 MEDIUM TERM EXPENDITURE FRAMEWORK AND FISCAL STRATEGY PAPER (MTEF/FSP) HELD AT THE OLD CHAPEL, AKWA IBOM STATE HOUSE OF ASSEMBLY, UYO ON THURSDAY SEPTEMBER 4, 2025.
Protocol,
i. Introduction:
By a letter dated 27th August, 2025 with Reference number: AKHA/S/365/VOL.I/401 signed by Mrs. Unyime Ekpenyong for Chairman, House Committee on Economic Planning and Development the Center for Human Rights & Accountability Network (CHRAN), was invited by the Akwa Ibom State House of Assembly to this Public Hearing. Annexed to the invitation letter was a copy of the Medium Term Expenditure Framework (MTEF). The Invitation letter stated that the Public Hearing is billed to hold on Thursday, September 4, 2025.
On receipt of the invitation letter, the CHRAN appraised the MTEF document. This presentation represents the position of the CHRAN on the document at the Old Chapel, Akwa Ibom State House of Assembly Complex, Uyo by 10:00 a.m.
ii. An Overview of the MTEF:
The MTEF 2026-2028 has three parts, namely; Economic and Fiscal Update (EFU), Fiscal Strategy Paper (FSP), and Budget Policy Statement (BPS). The MTEF 2026-2028 is prepared by the AKS 2026-2028 EFU/
FSP Technical Committee and approved by the Akwa Ibom State Ministry of Budget and Economic Planning. The document has five sections. Section 1 contains introduction and background; Section 2 contains Economic and Fiscal Update, with an Economic Overview, Fiscal Update and Debt Position; Section 3 contains the Fiscal Strategy Paper, explaining the microeconomic Framework, Fiscal Strategy and Assumptions, indicative Three-Year Framework, Local Government Forecast and Fiscal Risks. Section 4 contains Budget Policy Statement, explaining the Budget Policy Thrust, Sector Allocations for Three Years and Considerations for the Annual Budget Process. Section 5 summarizes key points and offers Recommendations. There is a generous list of tables, list of figures and abbreviations.
The 2026-2028 MTEF is a strategic roadmap for government to align its fiscal policies and budgetary priorities with the overarching goals of inclusive economic growth, sustainable development and social equity. This is against the backdrop that as Nigeria is facing complex economic challenges and evolving security dynamics, the need for prudent resource allocation and long-term planning is imperative. The MTEF serves as a fiscal discipline tool and development strategy blueprint, enabling states and local governments to plan and implement evidence-based policies with measurable outcomes. In framing the 2026-2028 MTEF, the drafters ensure that the framework prioritizes the five pillars of the ARISE Agenda of the present administration in Akwa Ibom State.
iii. CHRAN’s Inputs:
- The Center appreciates and commends the Akwa Ibom State Government for once again producing the MTEF even when the Federal Government is yet to publish its own MTEF, from which States are supposed to draw inspiration and data for their respective MTEFs. Of course, CHRAN has time and again commended the increasing tendency of the Akwa Ibom State Government to fiscal discipline, transparency and best practices in budgeting.
- CHRAN notes the realization of the framers of the 2026-2028 MTEF of the high risk of the volatility of global crude oil prices upon which Nigeria’s mono-economy is dependent. This accords with the continuing advocacy of the CHRAN for Nigeria, as well as Akwa Ibom State, to wean the almost total dependence of the economy on crude oil. This is more so as the document has stated that within the past year, the price of crude oil in the international market has plummeted from more than 90 dollars per barrel to less than 70 dollars per barrel.
- In the light of the foregoing, CHRAN suggests that the Akwa Ibom State Government should intensify efforts at internally generated revenue and large scale agricultural production for self sufficiency and export. CHRAN suggests the construction of all arterial roads in the Uyo Capital City area, most of which link three to four Local Government Areas in the State. The construction of these roads will enhance economic growth and propel investments in health, education, industry, real estate, tourism and hospitality, transportation, agriculture and rural development.
- CHRAN suggests the development of coastal communities through enabling infrastructure, such as roads to the sea coast, building of Jetties, petroleum storage facilities such as tank farms, and cold rooms.
- CHRAN notes that the International Worship Center located off Udo Udoma Avenue does not have any economic value and does not generate revenue. CHRAN suggests that the International Worship Center should be converted to an international conference center to attract tourists and generate revenue for the State.
- Since the Ibom Science Park project has been abandoned by the Government of Akwa Ibom State, CHRAN suggests that it should be converted to a Five Star Hotel with Conference Center and Golf Resort. This will attract tourists and generate revenue for the State.
- CHRAN suggests that the Gulfstream G450 business jet with registration number N224BH, the private aircraft of the Governor of Akwa Ibom State is of no economic utility to the State and its people, it should be sold off or commercialized to generate revenue for the State.
iv. Conclusion:
CHRAN commends the industry and the painstaking attention to detail invested in the preparation and production of the 2026-2028 MTEF and urges that the document should serve as the template for the preparation of the State budgets for the three year period with a view to realizing the ARISE Agenda.
The Center appreciates the Speaker, the Leadership and Members of the Akwa Ibom State House of Assembly for the invitation to this Public Hearing, believing that our submission will be incorporated into the final document in the interest of the Akwa Ibom masses.
Signed
Otuekong Franklyn Isong
Director
Comrade (Barr.) Christopher Ekpo
(Secretary)
