The Akwa Ibom State Government has described as false the Premium Times report which attributed revenue figures to the state and proceeded to draw comparisons between different fiscal periods but without adjusting for value erosion, exchange rate realities, inflationary pressures, or corresponding development outcomes.
Commissioner for Information, Dr Aniekan Umanah, who reacted on behalf of the government, said the newspaper headline may have been crafted for drama while governance is, however, not evaluated through nominal arithmetic stripped of economic context and must be assessed through real value analysis, purchasing power considerations, fiscal discipline, institutional strengthening, and tangible verifiable outcomes.
Umanah noted that to compare revenue figures from 2015 to 2020 with those of 2023 to 2026 without adjusting for currency depreciation and prevailing market prices of goods and services is fundamentally misleading, for within this period, the naira has depreciated from under N300 to the dollar to over N1,600, significantly eroding purchasing power despite nominal increases in revenue figures.
He stated that the state is compelled to state that such value-blind comparisons suggests mischief and that as the political season unfolds, certain interests may attempt to distort facts and paint the administration in underserved colours.
The information boss stated that government will never be drawn into unnecessary comparisons with previous administration as each government did its best within the realities of its time, for each operates with its vision, blueprint, priorities and prevailing economic conditions, adding that comparisons designed to mislead the public do not reflect the true state of governance in Akwa Ibom State.
Umana pointed out that for the avoidance of doubt, the government has publicly published the state’s financial accounts for 2023 and 2024, underscoring its commitment to transparency and accountability.
The commissioner then mentioned all completed and ongoing projects embarked upon by the present administration, maintaining that the Umo Eno-led administration remains focused on delivering people-oriented projects, strengthening institutions, deepening transparency and ensuring that governance serves the best interests of all Akwa Ibom people.
