The Governor Siminalayi Fubara administration in Rivers State proposes spending over N1.1 trillion in the 2025 fiscal year.
The Governor says the budget is premised on achieving sustainable economic growth, accelerating development and improving the living standards of the people.
Presenting the budget to lawmakers of the State House of Assembly led by Victor Oko-Jumbo on Monday, Governor Fubara says the budget also contains policy measures that will strengthen the state’s capacity to weather possible external shocks from the volatility of the national economy to build the resilience of the state’s economy.
Tagged “Budget of Inclusive Growth and Development,” the budget, which is the second in the life of his administration, is premised on achieving sustainable economic growth, accelerating development and improving the lives of the people.
The Governor says the state in the 2024 fiscal year recorded a significant increase in its internally generated revenue.
He says his administration was able to fund its expenditures and met all its debt repayment obligations without taking any new loans.
In addition to that, Governor Fubara says the 2024 recurrent and capital budget recorded a successful implementation with 100% historical performance.
A breakdown of the 2025 budget shows that N462 billion, representing 44%, has been allocated as recurrent expenditure while the sum of N678 billion, representing 56% of the total budget, has been earmarked as capital expenditure.
The Governor disclosed that the core priorities for the 2025 fiscal year will include agriculture, economic growth, quality education, healthcare delivery, basic infrastructure and social investment.
Governor Fubara notes that despite the many challenges it has faced, his administration has not lost focus on the people’s expectations of good governance and the improvement of their living standards.
While assuring the people of a better 2025, Governor Fubara stated that no other administration has delivered more capital investments and shown more commitment to strategic development and building prosperous, sustainable, and inclusive progress in Rivers State than his administration has done in the last 18 months.
(Editor: Terverr Tyav)
