A review of Rivers State’s 2025 budget estimates reveals that the state is set to receive over N400 billion in revenue, including N279.5 billion from the Federation Accounts Allocation Committee (FAAC) within six months.
This development follows Bola Tinubu’s appointment of a sole administrator to govern the state for a six-month period.
According to budget documents, Rivers State expects a total FAAC allocation of N559.1 billion in 2025, translating to an average monthly allocation of N46.5 billion. Over the first six months, this would amount to N279.5 billion.
For comparison, between January and June 2024, the state received N209 billion from FAAC. The projected increase in 2025 is likely influenced by expected national revenue growth, which has also driven the federal government’s decision to expand its budget to a record high.
Additionally, Rivers State aims to generate N264.37 billion in internally generated revenue (IGR) in 2025, with a monthly target of approximately N22.03 billion. Over six months, this would total N132 billion. Notably, the state surpassed its IGR projections in 2024, generating N164 billion between January and June.
If both the anticipated FAAC allocation of N279.5 billion and the expected IGR of N132.18 billion are realized, the Rivers State sole administrator could oversee over N400 billion (N411.73 billion) in the first half of the year.
This massive revenue inflow has sparked concerns over financial management, with some observers alleging that control over state funds is a key factor fueling Rivers State’s ongoing political crisis.
SaharaReporters previously 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 in a brief ceremony at the State House in Abuja. The event, held around 3 p.m., was attended by the Attorney-General of the Federation, Lateef Fagbemi, SAN, among other officials.
Tinubu defended his decision, stating that the deepening crisis in Rivers State had rendered governance ineffective.
“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.”
Tinubu 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.
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