Rivers State Governor Sir Siminalayi Fubara has presented the state’s 2025 budget, themed “Budget of Inclusive Growth and Development,” to the Rivers State House of Assembly.
The proposed N1.188 trillion budget aims to drive sustainable economic growth, infrastructural development, and improved living standards for residents.
Delivering the budget address, Governor Fubara reflected on his administration’s achievements since assuming office on May 29, 2023, emphasizing strides in infrastructure, education, healthcare, and security.
“We are determined to build a secure, great, and prosperous Rivers State where people can live, work, and thrive,” he stated.
2024 Budget Performance Highlights
Governor Fubara reviewed the performance of the 2024 budget, highlighting an unprecedented N100 billion increase in Internally Generated Revenue (IGR), which surpassed projections by over N51 billion.
The state also achieved 100% implementation of both recurrent and capital expenditures without resorting to new loans.
Key projects executed in 2024 included over 30 road projects, new schools, healthcare facilities, and progress on flagship initiatives like the Port Harcourt Ring Road and Trans-Kalabari Road.
2025 Budget Breakdown
The 2025 budget, amounting to N1,188,962,739,932.36, is structured as follows:
Recurrent Expenditure: N462.25 billion (39%)
Capital Expenditure: N678.08 billion (57%)
Planning Reserve: N35.69 billion
Closing Balance: N12.93 billion
The recurrent-to-capital expenditure ratio of 44:56 underscores the administration’s commitment to infrastructure and human capital development.
Revenue Projections
Projected revenue sources include:
Internally Generated Revenue: N264.37 billion
Statutory Allocation: N18.20 billion
Value Added Tax: N204.26 billion
Loans and Bonds: N250 billion
Capital Allocation by Sector
Major allocations include:
Governance: N213.59 billion
Infrastructure: N195.07 billion
Education: N63.28 billion
Health: N97.75 billion
Agriculture: N30.95 billion
Core Priorities for 2025
Governor Fubara emphasized the government’s focus on:
Agriculture: Boosting food security and creating employment opportunities.
Infrastructure: Expanding road networks and energy projects.
Education: Enhancing access to quality education across all levels.
Healthcare: Improving healthcare delivery through better facilities and services.
Social Investments: Reducing inequality and poverty through targeted programs.
The governor assured residents of continued efforts to address socio-economic challenges and build resilience against external economic shocks.
A Vision for Growth and Prosperity
Governor Fubara reiterated his administration’s mission to create an enabling environment for businesses and investments, promising strategic fiscal policies to ensure economic sustainability and improved livelihoods.
“The 2025 budget reflects our unwavering commitment to transforming Rivers State into a model of inclusive growth and development,” he concluded.
The Rivers State House of Assembly is expected to deliberate and approve the budget in the coming weeks.