The Sole Administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (retd.), has announced an upward review of the state’s 2025 budget from ₦1.48 trillion to ₦1.846 trillion.
Ibas made the disclosure on Wednesday while presenting the revised appropriation bill before the Senate Ad Hoc Committee on Emergency Rule at the National Assembly.
He explained that the review—an increase of about ₦400 billion—was necessary to reflect actual government expenditures. He attributed the initial underestimation to the withholding of key spending data by certain government officials, particularly regarding first-quarter expenditures.
According to Ibas, the state recorded total revenue of ₦1.04 trillion in 2024, surpassing the earlier projected figure of ₦800.39 billion.
He acknowledged that the revised budget may not be entirely comprehensive, citing the tight timelines and “unusual circumstances” under which it was compiled.
The federal government had last month transmitted an initial ₦1.48 trillion proposal for Rivers State to the National Assembly for legislative consideration and approval, following the declaration of emergency rule in the state.
