RIVERS REVISED BUDGET SWELLS TO N1.846 TRILLION AS IBAS CITES IMPROVED REVENUE

The Sole Administrator of Rivers State, Vice Admiral Ibok‑Ete Ibas (retd.), announced an upward review of the state’s 2025 budget, increasing it from the initial N1.43 trillion submitted to the National Assembly in May to N1.846 trillion. The review, which adds N365 billion to the state’s fiscal projections, was presented to the Senate Ad‑Hoc Committee on the Emergency Rule in Rivers State on Thursday, June 19th.
Ibas explained that the adjustment reflects improved revenue inflows, which stood at N415 billion as of May, surpassing the earlier projection of N383 billion. He also stated that the revised figure incorporates previously omitted expenditure lines and new priorities that were not captured in the earlier version due to delays in obtaining necessary data from state officials. The revised budget includes allocations for the anticipated return of suspended elected officials, ensuring that their offices and responsibilities are adequately funded.
According to the review, nearly 70% of the total N1.846 trillion is earmarked for capital projects, aligning with the Rivers State Development Plan (2017–2027). The focus, Ibas said, is on accelerating infrastructure delivery and strengthening internal revenue mobilization across the state. The total projected revenue for 2025 now stands at N1.49 trillion.
Senate Committee Chairman, Opeyemi Bamidele, confirmed the revision, stating that it aims to drive large‑scale infrastructure development and better align state resources with long‑term economic priorities. The Committee is expected to continue its deliberation on the revised budget in the coming days.