The Sole Administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (rtd), has revised the 2025 budget proposal for the State from the N1.43 trillion initially submitted to the National Assembly in May to N1.846 trillion, representing an increase of N365 billion.
Vice Admiral Ibas disclosed the upward review during his appearance before the Senate Ad-Hoc Committee on the Emergency Rule in Rivers State on Thursday.
Barely a month ago, President Bola Tinubu had forwarded to the federal lawmakers, a N1.43 trillion budget estimate for Rivers State to the National Assembly.
However, Ibas while defending the State’s financial plan, presented a new revised framework now pegged at N1.846 trillion, which t N365 billion higher than the earlier figure.
He attributed the increase to improved revenue inflows, which stood at N415 billion as of May, surpassing the projected N383 billion for the same period.
He explained that the updated budget also accommodates previously omitted expenditure lines and new items, which were left out earlier due to a lack of cooperation from some State officials who failed to provide essential information.
The revised budget estimate also makes provisions for the anticipated return of suspended elected officials, with appropriate allocations for their offices and responsibilities.
Chairman of the Senate Ad-hoc Committee on Rivers Emergency rule, Senator Opeyemi Bamidele, confirmed the budget increase and stated that the adjustment is aimed at driving large-scale infrastructure development across the State.
A breakdown of the revised budget estimate shows that nearly 70% of the total N1.846 trillion is allocated to capital projects.
Ibas noted that the budget aligns with the strategic priorities outlined in the Rivers State Development Plan (2017–2027), focusing on strengthening internal revenue mobilization and accelerating infrastructure delivery.
The projected total revenue for the 2025 fiscal year now stands at N1.49 trillion.
The Senate Committee is expected to continue its deliberations on the revised 2025 budget proposal in the coming days.
Editor: Ken Eseni
