Rivers State Revises 2025 Budget Upward to ₦1.846 Trillion Amid Peace-Building Push
Vice Admiral Ibas cites understated expenditures and withheld data; Senate committee backs pension allocation and capital-focused spending.
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, citing understated expenditures and withheld financial data as reasons for the ₦400 billion increase.
Ibas made the disclosure on Thursday while presenting the revised fiscal plan before the Senate Ad Hoc Committee on Emergency Rule, which is overseeing the administration of Rivers State following the emergency declaration by President Bola Tinubu on March 18, 2025.
According to Ibas, Rivers State’s actual revenue for 2024 reached ₦1.04 trillion, surpassing the initial budget projection of ₦800.39 billion by over 31 percent. However, he explained that early budget planning had been compromised by incomplete data, particularly unreported first-quarter expenditures, leading to a significant underestimation of real financial needs.
“It is my well-considered opinion that the expenditures were clearly understated,” Ibas told the committee, adding that the revised budget was drafted under challenging circumstances and may not be perfect.
A critical highlight of the revised plan is the allocation of ₦50 billion to settle outstanding pension liabilities, a decision hailed by Senate leaders as a strategic peace-building move amid ongoing political tension in the state.
“This ₦50 billion is a direct welfare intervention for people who have served and deserve to be paid,” said Senator Opeyemi Bamidele, Senate Leader and Chairman of the Ad Hoc Committee. “It’s not just a fiscal decision; it’s a peace-building effort.”
The Senate committee commended the new budget’s structure, noting that over 70 percent of the total allocation is earmarked for capital projects, including infrastructure, economic development, and public services, while less than 30 percent is set aside for recurrent expenditure.
Committee members also met behind closed doors with members of the state’s interim administration and economic team, reaffirming their commitment to ensuring transparency, fiscal accountability, and protection of Rivers citizens under the emergency governance framework.
The revised budget is expected to guide the interim administration through the remainder of the emergency rule period, pending political resolution and the return to democratic governance in the state.
