Report has shown that a review of the Rivers State 2025 budget estimates indicates that the state is projected to receive over N400 billion in revenue over a six-month period, including N279.5 billion from the Federation Accounts Allocation Committee (FAAC).
This follows President Bola Tinubuโs appointment of a sole administrator to oversee the state for six months amid ongoing political turmoil.
According to the budget document, Rivers State expects a total of N559.1 billion from FAAC in 2025, averaging N46.5 billion monthly. Over six months, this would amount to N279.5 billion.
This projection marks a significant increase compared to the N209 billion the state received from FAAC between January and June 2024. The rise is attributed to anticipated growth in national revenue, which has also influenced the federal governmentโs record-high budget for 2025.
In addition to FAAC allocations, Rivers State aims to generate N264.368 billion in internally generated revenue (IGR) in 2025, averaging approximately N22.03 billion monthly. Over six months, this would total N132.184 billion.
Historical data suggests the state could surpass this target, having generated N164 billion in IGR during the first half of 2024.
Combining the projected FAAC allocation (N279.5 billion) and IGR (N132.184 billion), the sole administrator could oversee revenues exceeding N400 billion (N411.734 billion) within six months.
President Tinubu recently appointed Vice Admiral Ibok-Ete Ibas (retd.) as the sole administrator of Rivers State following the declaration of a state of emergency. The swearing-in ceremony, held at the State House in Abuja, was attended by the Attorney-General of the Federation, Lateef Fagbemi, SAN, among others.
Tinubu justified the decision, citing the paralysis of governance in Rivers State due to the prolonged crisis.
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