Budget Presentation by Rivers Sole Administrator and Ibas: A Proposed ₦1.48 Trillion Spending Plan Submitted to Representatives
According to our source, Ibok-Ete Ibas, the administrator of Rivers State, recently presented a bold ₦1.48 trillion budget plan for 2025. This budget ain't no joke - it's all about restoring infrastructure, improving social services, and promoting inclusive development in the oil-rich state currently under a state of emergency.
Speaking before the House of Representatives during the budget presentation at the National Assembly in Abuja, Ibas regretted the lack of cooperation from suspended state officials that obstructed full and transparent fiscal planning. The budget, which has received presidential approval and is now awaiting a Supreme Court ruling on its legitimacy, contains a projected revenue of ₦1.4 trillion and reflects the state's strategic priorities under the Rivers State Development Plan 2017-2027.
Ibas expressed his gratitude to the House Committee, acknowledging the challenges encountered due to the withholding of critical information by suspended state officials. Despite these hurdles, the budget has been revised to ratify previous spending and ensure it aligns with national appropriation standards, with a guaranteed emphasis on transparency and fiscal responsibility.
The Rivers 2025 budget allocation looks like this:
- ₦324.5bn for infrastructure and transportation
- ₦55bn to relocate and expand the Rivers State University Teaching Hospital
- ₦50bn for zonal hospital upgrades
- ₦38.85bn for shoreline protection and erosion control
- ₦30bn for zonal secondary schools and ₦5.75bn for primary school rehabilitation
- ₦2.5bn for women's economic empowerment
- ₦3bn for youth resource centers
- ₦20bn to recapitalize the Rivers State Microfinance Bank to support MSMEs
- ₦117bn for pensions, gratuities, and employee benefits
Ibas had some inspiring words for the citizens of Rivers State, stating, "With a bit of luck, anyone in this state with a brilliant and well-planned idea will find the funds they need to make their dreams a reality—irrespective of tribal, ethnic, or political boundaries."
The Chairman of the House Committee on Rivers State Oversight, Hon. Julius Ihonvbere, lauded Ibas for his comprehensive, people-focused budget presentation and vowed that the lawmakers would collaborate to achieve peace, development, and stability in the state. After all, as Ihonvbere says, "Rivers State has always been a shining example of what can be achieved with good leadership."
The upcoming budget defence sessions will be meticulously scrutinized to guarantee fiscal discipline, accountability, and effective implementation, particularly under the emergency governance structure currently guiding Rivers State.
Intriguing Insights
- Infrastructure Development: The Rivers 2025 budget places a substantial focus on infrastructure development, as significant investments are made in constructing roads, bridges, and transportation networks. This will help enhance rural-urban integration and boost connectivity across the state.
- Social Welfare and Healthcare: The budget allocates substantial funds for the enhancement of access to quality healthcare services and overall well-being of the state's citizens, aiming to address health disparities. By prioritizing healthcare investments, the state seeks to improve the population's overall well-being.
- Job Creation and Economic Development: The Rivers 2025 budget aims to generate approximately 6,000 new jobs, primarily through strategic investments in key sectors such as infrastructure, healthcare, education, and agriculture. This emphasis on job creation is part of a broader strategy to foster economic growth and reduce unemployment, contributing to inclusive economic development.
- Inclusive Growth and Internal Revenue: The budget proposal is designed to reflect President Bola Ahmed Tinubu’s vision for Rivers State, focusing on inclusive growth across all critical sectors. It also prioritizes improving internally generated revenue, essential for sustaining the state's development initiatives and ensuring financial stability.
All in all, the Rivers State 2025 budget proposal is aimed at addressing the state's immediate needs and setting a foundation for long-term development and stability. It exemplifies a comprehensive approach to revitalizing infrastructure, improving social services, and fueling economic growth, with the ultimate goal of achieving more inclusive development.
- The Rivers State 2025 budget plan, presented by Ibok-Ete Ibas, follows President Bola Ahmed Tinubu’s vision for inclusive growth, focusing on significant investments in infrastructure, education, healthcare, and agriculture to generate about 6,000 jobs.
- The policy-and-legislation focus of the reps, as demonstrated in their collaboration with Ibas, centers on promoting transparency, fiscal responsibility, and accountability in the Rivers State budget, in line with the Constitution and national appropriation standards.
- The APC-led administration in Abuja is closely monitoring the Rivers State budget, with interests in the proposed investments in infrastructure, social services, and job creation, hoping that these initiatives will serve as a model for other Nigerian states and help drive inclusive growth at the national level.
- Although the ₦1.48 trillion budget has received presidential approval, it is still awaiting a Supreme Court ruling on its legitimacy, with the pending judgment adding an extra layer of uncertainty to the budget's implementation process.
- Despite various political news headlines surrounding the state, the gridlock in the executive arm, and the ongoing legal battles, the people of Rivers State remain hopeful about the prospects of a brighter future, as they look forward to the execution of the 2025 budget plan, aimed at improving infrastructure, social welfare, and fostering economic development. [#General-news, #Naija, #Lagos, #politics]
