₦1.48tn Budget Archives

Reps Approve N1.485trn Rivers 2025 Budget

Fola Badmus2 months ago2 months ago01 mins

The House of Representatives has approved a budget of N1.485 trillion for Rivers State for the 2025 fiscal year. The approval followed the presentation and adoption of the report by the House Ad-hoc Committee on Rivers State during Tuesday’s plenary session. According to the budget breakdown, N256 billion is allocated for personnel expenses, N162.5 billion for overhead costs, while capital expenditure will take the largest share with N1.06 trillion earmarked for developmental and infrastructural projects. The legislation, titled: “Bill for an Act to Authorise the Issue from the Rivers State Government Statutory Revenue Fund of the Rivers State Account, the Total Sum of N1.485 Trillion for the Year Ending 31 December 2025”, was considered and approved at the Committee of Supply chaired by the Speaker. After consideration, the House reverted to plenary, suspended its rules, and passed the Rivers State Appropriation Bill, 2025 through the third and final reading.

Reps Demand Breakdown of Rivers’ ₦1.48tn Budget, Question ₦24bn for CCTV and ₦30bn for Gunboats

Fola Badmus3 months ago3 months ago01 mins

The House of Representatives Ad hoc Committee on Rivers State has issued a 48-hour ultimatum to the state’s Sole Administrator, Vice Admiral Ibok-Ete Ibas (retd.), demanding a detailed breakdown of key allocations in the controversial ₦1.48 trillion 2025 budget. During a session in Abuja on June 30, committee chairman Julius Ihonvbere raised concerns about several budgetary provisions, including ₦24 billion for CCTV installations at the Government House and ₦30 billion for gunboats. Lawmakers also questioned the ₦23 billion contingency reserve and allocations to federal projects without reimbursement agreements. The committee demanded submission of the Medium Term Expenditure Framework (MTEF), a report on Internally Generated Revenue (IGR), and clarification on the handling of local government funds. Ihonvbere emphasized accountability and praised President Bola Tinubu’s intervention in Rivers’ political crisis. Responding, Andrew Nweke, Senior Special Assistant on Strategy and Policy, said many provisions were inherited and based on security needs and agency recommendations.