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Rivers N1.188trn 2025 budget signed into law in Port Harcourt

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… Says only one House of Assembly exists in Rivers State

The Rivers State N1.188trn budget bill for 2025 has been signed into law. This was signed by Gov Sim Fubara who said the only House of Assembly that exists under the law is the one led as speaker by Victor Oko-Jumbo.

Signing the budget which was submitted by the three-man Assembly on December 30, 2024, Gov Fubara said the law is umber one of 2025.

Presenting the 2025 Budget to Gov Fubara for assent, Leader of the House, Sokari Goodboy Sokari, said the total projected estimate of N1.188trn for the 2025 fiscal year indicated a huge leap from previous year’s figure, indicating progress and assuring multiplication of comfort that good leadership can provide.

Sokari also noted the strategic allocations for Recurrent and Capital expenditures that provide for the welfare of workers and retirees, more development projects, as well as savings that will be made from accruing revenues.

The governor, after signing, said the records needed to be put straight to address insinuations in some quarters about a possible split in the state’s parliament, saying there was no such division.

Gov Fubara stated: “We have only one Rivers State House of Assembly, and that Assembly is headed by Rt Hon Victor Oko-Jumbo”.

He described those who abdicated their mandate in the House as a group of friends who he said had embarked on ‘Sinbad journey’, and half-way into the journey, they decided to return. He said; “It is too late. We are not going back. As far as I am concerned, we have moved on.”

Gov Fubara said that as it stood, the focus of his administration was to do everything possible in defending the interest of Rivers State and the integrity of governance, and assured that with the 2025 budget now signed, every projection made in it will be addressed to deliver hope and good life to all residents in the State.

He said, “We will make sure that we kick-start, so that the record of performance that was accorded by this administration in the year 2024 will be higher in this year, 2025.

“Let me first thank the Rivers State House of Assembly for doing very diligent job, and also realizing the task that we have ahead of us, which is to continue to work for Rivers people. So, I want to thank you for working very hard and ensuring that we hit the ground running in this New Year.”

Read also: Fubara presents N1.188 trn 2025 budget, N388bn higher than 2024 budget

Gov Fubara also commended members of the State Executive Council, which he described as the management team, especially the Deputy Governor, for their support and cooperation, and particularly thanked the Commissioners for Finance, and Budget, as well as the Acting Chairman of Rivers State Internal Revenue Board, for the wonderful job they did last year.

He noted, “We expect you to do more because we have a bigger task ahead of us. We have made some promises to our people. Education, Health and Agriculture; we must make sure we make good impact just like we have done in the areas of road and other aspects of the economy. We made a promise to you (Rivers people) that we will continue to protect, defend and promote the interest of our dear State.”

In his speech, Speaker of Rivers State House of Assembly, Oko-Jumbo, asserted that Rivers people witnessed unprecedented growth in the State made possible by the administration of Gov Fubara in infrastructure development, healthcare delivery, education, social welfare, security and other sectors.

Oko-Jumbo pointed to how Gov Fubara has become the beacon of hope of the common man on the streets, because, according to him, they are happy with the positive impact his leadership style has afforded them.

The Speaker explained that Governor Fubara has paid Rivers civil servants and pensioners N100,000 Christmas bonus, being the second time; and approved and paid N85,000.00 minimum wage (salary) to civil servants, which have stood him out as a leader that prioritises the well-being of the people.

He said, “Your Excellency, 2025 promises to be a year of strategic planning and partnership. We have no doubt that you will carry out the task of developing and delivering the dividends of democracy to every nook and cranny of Rivers State. So, Your Excellency, on behalf of the 10th Rivers State House of Assembly, we want to say thank you for being the People’s Governor, and thank you for the strategic partnership with the Legislature. Your Excellency, 2025 promises to be a year of exponential growth in Rivers State.”

Details:

This 2025 figure of N1.188trn is an increase from the 2024 budget of N800 bn that was presented in 2023 to the Assembly.

Gov Fubara presented the 2025 Appropriation Bill at the Assembly Auditorium, Administrative Block of Government House in Port Harcourt on Monday, Dec 30, 2024.

He christened it: “Budget of Inclusive Growth and Development”, and said it would be implemented to achieve sustainable economic growth, accelerate the development of the State, while improving the living standards of all residents in the State.

Gov Fubara explained that with the set out objectives, the 2025 budget would strengthen the capacity of the State to weather possible external shocks from the volatility of the national economy while building a resilient economy that will advance the collective development and prosperity of the people.

He said, “The total projected revenue for Rivers State for the 2025 Fiscal Year is N1,188trn and that two components of the budget were constituted as follows: Recurrent Expenditure of N462bn; Capital Expenditure of N678bn; Planning Reserve of N35.6bn; and a closing balance of N12.9bn. This gives a Recurrent/Capital Expenditure ratio of 44:56%.”

Gov Fubara said nearly N31 bn has been allocated to support interventions in agricultural development to ease the implementation of a comprehensive agriculture transformation and support programme for Rivers youths in order to significantly resolve issues of youth unemployment and poverty.

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