Governor Siminalayi Fubara Unveils N1.188 Trillion 2025 Budget for Rivers State
Rivers State Governor, Siminalayi Fubara, has unveiled a robust N1.188 trillion Appropriation Bill for 2025 during a presentation to the State House of Assembly. This initiative represents a substantial increase from the N800 billion budget allocated for 2024.
Characterized as the “Budget of Inclusive Growth and Development,” the proposed financial plan focuses on sustainable economic expansion and improved living conditions for all residents within the state. The budget is strategically segmented into different areas, reflecting the government’s priorities.
The allocated budget includes N462.25 billion for recurrent expenditure and N678.08 billion for capital expenditure, alongside a planning reserve of N35.69 billion and a closing balance of N12.93 billion. With a recurrent-to-capital expenditure ratio of 44:56%, the administration demonstrates a commitment to fostering infrastructure development while also investing in human capital.
A significant portion of the budget, over N195 billion, is designated for the completion of ongoing road projects as well as initiating new ones. This funding will also facilitate upgrades to public transportation systems across the state.
In a bid to tackle food insecurity and youth unemployment, nearly N31 billion is earmarked for agricultural transformation, aiming to boost youth engagement in farming. These efforts will include land preparation, access to quality seedlings, fertilizers, and modern farming equipment.
Education is a major focus, with an investment of more than N63 billion (9.3% of the total budget) allocated to improving learning environments and ensuring access to free basic education. Key initiatives include rehabilitating and equipping public schools, tapping into Universal Basic Education Commission grants, and enhancing secondary school infrastructure, such as classrooms, water, and electricity access.
Healthcare improvements are also prioritized, with N97.75 billion (14.4% of the budget) set aside for major healthcare projects, including the completion of zonal hospitals, a neuropsychiatric hospital, and general hospitals like the Rumuigbo facility. The government also aims to strengthen the Rivers State University Teaching Hospital and improve access to essential drugs and medical supplies.
Additionally, approximately N15.4 billion is allocated for youth and gender empowerment, sports development, and social inclusion. This funding will support the establishment of digital resource centers and assist the state sports teams, including Rivers United and Rivers Angels.
The budget also outlines plans to finish electrification projects and transition streetlights in Port Harcourt and Obio/Akpor Local Government Areas to solar power. The administration intends to pass the Rivers State Electricity Market Bill, which is expected to draw private sector investment into the energy sector.
Funding for the 2025 budget will be sourced from FAAC allocations, Internally Generated Revenue (IGR), statutory allocations, mineral funds, VAT, and refunds. Highlighting the administration’s achievements in boosting IGR, Governor Fubara noted a N100 billion increase compared to the 2023 figure, which reflects ongoing efforts to enhance fiscal accountability and transparency.
Rt. Hon. Victor Oko-Jumbo, Speaker of the Rivers State House of Assembly, praised Governor Fubara’s accomplishments in raising IGR and maintaining financial prudence. He pledged the Legislature’s unwavering support to ensure the administration successfully delivers democratic benefits to the residents of Rivers State.
The 2025 budget presentation underscores the government’s determination to foster a resilient economy and facilitate inclusive development across various sectors.
Join our Channel...