2025 Rivers N1.48trn Budget Signals Fubara’s Return – Ibas

The sole administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (retd), on Wednesday said the Rivers State budget of N1.48 trillion presented to the National Assembly signalled the imminent return of the suspended Rivers State Governor Siminalayi Fubara.

Ibas disclosed this while defending the budget before the House of Representatives Ad-Hoc Committee on Rivers State Oversight.

Fubara and the state legislators were suspended for six months while a sole administrator, Vice-Admiral Ibok-Ete Ibas (retd), was appointed to govern the state following prolonged political crisis in the state.
Since then, there has been political alignment, with Fubara meeting his predecessor and FCT Minister Nyesom Wike and President Bola Ahmed Tinubu for reconciliation.

The presentation of the N1.48trn Rivers State budget by President Tinubu and defence by the sole administrator, Ibas, has signalled Fubara’s imminent return, even though state politics is still hot.
The state APC chairman had declared that even if Fubara joined the APC, his ‘sin’ would not be forgiven.
But Ibas has accused some officials in the administration of suspended Governor Fubara of deliberately withholding key financial information, which complicated the planning of the 2025 budget.

Ibas disclosed this when he appeared before the House of Representatives Ad-Hoc Committee on Rivers State Oversight on Wednesday to defend the proposed N1.48 trillion budget.

He raised concerns that expenditures by the suspended administration were understated.
The retired military general told lawmakers that the lack of cooperation from the officials hindered a full accounting for funds already expended by the suspended administration during the first quarter of 2025 before President Tinubu declared a state of emergency in the state.

Ibas, however, noted that the budget proposal submitted to the National Assembly was revised to integrate available expenditure information and ratify the first quarter spending in a lawful and transparent structure.

“We are optimistic that implementing the 2025 budget proposal will deliver great socioeconomic benefits for the people of River State. While the records available to me on the 2024 budget and its actual performance remain a source of concern, the quick review of the official documents for the 2024 budget shows that the total revenue of the River State Government was N1.04 trillion, compared to a target of N800.39 billion.

“This represents N250 billion, or 31.6 per cent above the budget target. On the expenditure side, the official performance report shows that the total expenditure was N740.74 billion, which was N52.7 billion, or 6.7 per cent less than the spending target. It is my well-considered opinion that the costs are understated.”

Speaking on the budget for 2025, he said, “The total revenue projected for the 2025 fiscal year is N1.4 trillion. As of May 2025, total revenue inflows were N597.14 billion, only about four per cent less than our projection. The total expenditure planned for 2025 is N1.48 trillion. The proposed 2025 budget was particularly designed to account for irregularised expenditures already undertaken during the first quarter of the fiscal year by the suspended administration, before the state of emergency declaration by His Excellency, President Bola Tinubu.

According to him, state officials withheld critical information required to ensure a more complete capture of those expenditures at the time of submission of the budget estimates.

He went on: “However, recognising the exigencies under the state of emergency and the need to ensure fiscal credibility, the budget framework integrates available expenditure information before submitting the budget proposal to ratify the first quarter expenditures in a lawful and transparent structure,” he said.

Ibas disclosed that the 2025 draft budget retained funding provisions for offices and functions of suspended political actors, some of whom, he noted, had drawn down on allocated funds earlier in the year and were expected to resume official duties at the expiration of the emergency period.

He said the record allocation N324.5 billion to critical infrastructure underlines the administration’s commitment to completing high-impact roads, bridges, and transport networks to improve connectivity and commerce across the state’s urban and rural parts.

Ibas said additional allocations include N38.85 billion for shoreline protection, land reclamation and erosion control, which he said would support long-term environmental resilience and disaster mitigation efforts.

The Sole Administrator outlined further sectoral investments: N4.5 billion in counterpart funding to unlock N45 billion for rural agricultural access projects; N10 billion for food security; N3.5 billion for agricultural mechanisation; and substantial health and education infrastructure allocations.

On healthcare, the state proposed N55 billion for the relocation and expansion of the Rivers State University Teaching Hospital, N50 billion for zonal hospitals, and N5 billion for a drug revolving fund to stabilise medicine supply chains.

Education will receive N30 billion for zonal secondary schools and N5.75 billion for primary school rehabilitation, with additional attention to inclusive learning initiatives.

In the social sectors, the budget earmarked N2.5 billion for women’s economic empowerment and N3 billion for a youth resource centre to promote innovation and enterprise among the young population.

In his remarks, the House Committee on Rivers State Oversight Chairman, Hon Julius Ihonvbere, applauded the administrator for his detailed briefing and reaffirmed the committee’s commitment to support peace and development efforts in the state.

He said, “We will scrutinise the budget and invite you to send your relevant officials for a proper defence. While we are committed to getting Rivers State back on track, we will not cut corners.”