Rivers State Governor Siminalayi Fubara has presented the 2025 Appropriation Bill to the State House of Assembly. The proposed budget is ₦1.188 trillion, a significant increase from the ₦544.7 billion budget of the year 2024 budget.
Governor Fubara called it the “Budget of Inclusive Growth and Development” to “drive sustainable economic growth, enhance infrastructure, and improve living standards for all residents.”
The budget breakdown includes ₦462.25 billion for recurrent expenditure and ₦678.08 billion for capital expenditure. The budget maintains a recurrent-to-capital expenditure ratio of 44:56 in favour of capital.
There is also a planning reserve of ₦35.69 billion and a closing balance of ₦12.93 billion.
Over ₦195 billion is allocated for road infrastructure to complete ongoing projects and start new ones. This funding will help modernize public transportation.
Nearly ₦31 billion is set for agriculture to support youth participation. The initiative will provide land preparation, improved seedlings, fertilizers, and modern farming tools to tackle food insecurity and youth unemployment.
Over ₦63 billion, or 9.3% of the budget, will be spent on education. This funding will improve learning environments and offer free basic education. The focus is on rehabilitating public schools and enhancing secondary schools.
Healthcare projects will get ₦97.75 billion, which is 14.4% of the budget. The government says it plans to complete zonal hospitals and improve the Rivers State University Teaching Hospital.
Approximately ₦15.4 billion is earmarked for youth and gender empowerment, sports development, and social inclusion. This includes establishing digital resource centres and supporting local sports teams.
The government will complete electrification projects and transition streetlights in Port Harcourt and Obio/Akpor Local Government Areas to solar power. They also plan to pass the Rivers State Electricity Market Bill to attract private investments.
Revenue & Funding
Funding for the 2025 budget will come from FAAC allocations, Internally Generated Revenue (IGR), and mineral funds. Governor Fubara claimed his government has been able to raise IGR to ₦100 billion from 2023 through fiscal transparency.
Rt. Hon. Victor Oko-Jumbo, Speaker of the Rivers State House of Assembly, praised Governor Fubara for enhancing IGR and maintaining financial discipline. He assured him of continued legislative support for the administration’s efforts to deliver benefits to Rivers State residents.
Comment, Like, share this article, and Follow us on our social media handles.
WhatsApp Channel
Telegram Channel
For Your Local Weather Update
