Budget Document Shows Rivers State Under Sole Administrator Will Get Over N400billion Revenue In Six Months
This comes after President Bola Tinubu appointed a sole administrator for the state for a six-month period.
Areview of the Rivers State 2025 budget estimates has revealed that the state will receive over N400billion in revenue including N279.5billion which is allocation from the Federation Accounts Allocation Committee (FAAC) in six months.
This comes after President Bola Tinubu appointed a sole administrator for the state for a six-month period.
According to the budget document, Rivers State expects to receive a total of N559.1billion from FAAC in 2025.
This translates to an average monthly allocation of N46.5billion.
Consequently, within six months, the state’s FAAC allocation is projected to amount to N279.5billion.
Looking at past allocations, from January to June 2024 — a six-month period — the state received N209billion from FAAC.
The higher estimate for 2025 may be driven by expected increases in national revenue, which have also influenced the federal government’s decision to increase its budget to a record-high level.
Additionally, the state plans to generate N264.368billion in internally generated revenue (IGR) in 2025. This equates to a monthly target of approximately N22.03billion. Over six months, this would amount to N132billion.
Historical data suggests that Rivers State may exceed this target. Between January and June 2024, the state generated N164billion in IGR.
If the anticipated N279.5billion FAAC allocation and the expected N132.184billion IGR are combined, the Rivers State sole administrator may manage over N400billion (N411.734billion) within six months.
Concerns have been raised regarding how the funds would be managed.
Some observers alleged that the struggle for control over Rivers State’s allocation is a key factor behind the ongoing political crisis in the state.
SaharaReporters earlier reported that after declaring a state of emergency in Rivers State, President Bola Tinubu swore in Vice Admiral Ibok-Ete Ibas (retd.) as the state’s sole administrator at the State House in Abuja.
The brief ceremony, which took place around 3pm, was attended by the Attorney-General of the Federation, Lateef Fagbemi, SAN, among others.
President Tinubu had justified the decision by stating that the ongoing crisis had paralysed governance in Rivers State.
“With the crisis persisting, democratic governance — which we have all fought and worked for over the years — cannot thrive in a way that benefits the good people of the state. The state has been at a standstill since the crisis began, preventing its residents from enjoying the dividends of democracy.”
The president blamed Governor Siminalayi Fubara for the situation, particularly for the demolition of the Rivers State House of Assembly, calling the act unjustifiable. He also noted that various interventions by prominent figures had failed to resolve the crisis.
“It is public knowledge that the Governor of Rivers State, for unjustifiable reasons, demolished the House of Assembly as far back as December 13, 2023, and has yet to rebuild it, even after 14 months.
“I have personally intervened between the contending parties to facilitate a peaceful resolution, but my efforts have been largely ignored. I am also aware that many well-meaning Nigerians, leaders of thought, and patriotic groups have made similar attempts, all to no avail. Nonetheless, I thank them.”
Tinubu further accused Governor Fubara of engaging in unconstitutional acts and disregarding the rule of law.
“On February 28, 2025, the Supreme Court delivered a judgment on about eight consolidated appeals concerning the political crisis in Rivers State. The court, based on the grave unconstitutional acts and disregard for the rule of law committed by the governor — evidenced before it — pronounced its ruling in very clear terms,” he said.
Credit/ sahara Reporter
