Rivers State’s Sole Administrator, Vice Admiral Ibok-Ete Ibak, has presented a revised budget of N1.846 trillion to the Senate Ad-hoc Committee on Oversight, marking a significant N360 billion increase from the initial N1.486 trillion estimate proposed by President Bola Tinubu.
The updated budget includes crucial allocations for security, addressing pension and gratuity arrears, and funding capital projects designed to spur economic growth and entrepreneurship within the state.
Sen. Opeyemi Bamidele, Chairman of the Ad-hoc Committee, defended the budget increase, emphasizing its necessity to tackle the state’s urgent challenges.
He specifically highlighted the N50 billion allocated for pension and gratuity arrears, describing it as both a “moral obligation and a peace-building effort.”
Bamidele said: “One of the standout components of the revised budget is the allocation of ₦50 billion for the payment of outstanding pensions and gratuities.
“These are citizens who served their state diligently and have waited far too long for their entitlements. We see this move as both a moral obligation and a peace-building effort.
“Another major point of commendation is the budget’s structure. More than 70% of the total appropriation is earmarked for capital expenditure, while less than 30% is designated for recurrent expenses, including overhead costs.
“This demonstrates a clear commitment to infrastructure, job creation, and development. If our budgets focus more on capital projects, our people will see and feel the dividends of democracy.”
Earlier in his opening remarks,the Senate Leader also assured that the adhoc Committee would ensure faithful implementation of the Rivers State Budget.
“As representatives of the Nigerian people, we are not only tasked with evaluating figures, but also with ensuring the faithful implementation of the budget.
“It is our mandate to track how allocated resources are utilised – project by project, sector by sector – to guarantee transparency and uphold accountability in the use of public funds.
“This means that our engagement today on the Rivers State 2025 Appropriation Bill does not end here.
“We shall, in the coming months, assess the performance of the budget by closely monitoring disbursements, execution timelines, and delivery outcomes.
“Our objective is to ensure that approved funds translate into meaningful development and that deviations or delays are addressed promptly in the overriding public interest,” he said.
The senator added: “Beyond the numbers, we must also evaluate the real-world impact of this budget on the everyday lives of the people of Rivers State. In times of political uncertainty and emergency governance, government actions must not only be lawful, but also people-centred.
“We must ask: will this budget deliver improved roads, healthcare, education, safety, and livelihoods for the people?
This, ultimately, is how we build trust in government and public institution like ours.“
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