•Ibas (second-right) at the Senate ad-hoc committee hearing today
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 — an increase of approximately ₦400 billion.
Ibas disclosed this while presenting the revised budget before the Senate Ad Hoc Committee on Emergency Rule today, reports Channels TV.
He revealed that the state’s total revenue for 2024 stood at ₦1.04 trillion, significantly exceeding the budget target of ₦800.39 billion—a 31.6 per cent increase.
“It is my well-considered opinion that the expenditures were clearly understated,” he said.
The sole administrator further disclosed that some officials withheld critical expenditure information during the budget development process, particularly concerning first-quarter spending, which led to an incomplete reflection of actual government outlays.
He acknowledged that the proposal may not be perfect, given the tight timeline and prevailing circumstances under which it was prepared.
Ibas was accompanied by other key officials, including members of the economic team to appear before Senate Ad-Hoc Committee on Emergency Rule in Rivers State.
The Senate had weeks ago reaffirmed its commitment to ensuring that the people of Rivers State were not shortchanged following the declaration of emergency rule by President Bola Tinubu on March 18, 2025.
Speaking after a closed door engagement with members of the state’s interim administration, the Chairman of the ad hoc committee and Senate Leader, Senator Opeyemi Bamidele, noted that the increase in the budget was partly informed by a ₦50 billion allocation aimed at settling outstanding pension liabilities, a move described as key to the ongoing peace process in the state.
“This ₦50 billion is a direct welfare intervention for people who have served and deserve to be paid. It’s not just a fiscal decision; it’s a peace-building effort,” he said.
The committee further commended the structure of the revised budget, highlighting that more than 70 per cent of the total allocation is directed toward capital expenditure, while less than 30 per cent is earmarked for recurrent costs.
The committee announced it would finalise and adopt its report by Monday, with a formal presentation to the Senate expected when the legislature reconvenes next week.
