The Sole Administrator of Rivers State, Vice Admiral Ibok-Ette Ibas (Rtd), has presented a revised 2025 budget estimate of ₦1.846 trillion, marking a significant upward review of ₦360 billion from the initial proposal of ₦1.481 trillion earlier submitted to the National Assembly by President Bola Ahmed Tinubu.
This updated budget was formally presented on Thursday to the Senate Ad-hoc Committee on Oversight of Emergency Rule in Rivers State, led by Senator Opeyemi Bamidele. The revised fiscal plan, according to Ibas, is aimed at addressing urgent socio-economic demands in the state, especially in critical sectors such as pensions and gratuities.
Explaining the rationale behind the increase, Ibas disclosed that an additional ₦50 billion has been earmarked for pensions, gratuities, and employee benefits—bringing the total provision for this category to ₦167 billion, up from the initial ₦117 billion. He noted that the financial obligations to retirees are long overdue and must be met to restore public trust and equity in governance.
Furthermore, the Sole Administrator stated that the revised budget still retains financial allocations for the offices and responsibilities of suspended political officials. This, he said, was done in anticipation of a return to constitutional governance and to maintain institutional continuity.
“The revised 2025 Rivers State budget is built upon a framework that integrates expenditures made before the formal submission to ensure lawful appropriation, transparency, and credibility,” Ibas said. “It is a people-centered fiscal blueprint that not only tackles existing challenges but also lays the groundwork for sustainable development in line with the Rivers State Development Plan 2017–2027.”
According to Ibas, the revised total projected expenditure stands at ₦1.846 trillion, while the expected revenue projection is ₦1.490 trillion. The gap is expected to be covered through internal loans, federal allocations, and other revenue-generating initiatives.
In his closing remarks, Senator Opeyemi Bamidele lauded the composition of the budget, particularly the prioritization of capital expenditure. He praised the fact that 70% of the total budget is allocated to capital projects, while less than 30% is earmarked for recurrent expenditure.
“This approach is commendable and represents the kind of budgeting model the Senate encourages across all states of the federation. It is a practical step toward the effective delivery of the dividends of democracy,” Senator Bamidele said.
He, however, noted that for the process to reach conclusion, the committee would require additional consultations. He requested the presence of the State Accountant General, Permanent Secretary of the Ministry of Finance, and the Director of the Budget Office for the final drafting session.
According to him, the final version of the budget will be completed by the Ad-hoc Committee on Monday and formally presented to the Senate for approval on Tuesday.