The Rivers State Governor, Sir Siminalayi Fubara, has presented N1.188 trillion as budgetary estimate for the year 2025 to Victor Oko Jumbo-led state House of Assembly for consideration and approval.
This figure is an increase from the 2024 budget of N800billion presented in 2023 to the Assembly.
Governor Fubara presented the 2025 Appropriation Bill shortly after delivering his address to the five lawmakers at the Assembly Auditorium, Administrative Block of Government House in Port Harcourt on Monday.
He said the 2025 budget christened: “Budget of Inclusive Growth and Development”, 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.
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Governor 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 N1,188,962,739,932.36. Two components of the budget are constituted as follows: Recurrent Expenditure of N462,254,153,418.98; Capital Expenditure of N678,088,433,692.03; Planning Reserve of N35,688,864,931.16; and a closing balance of N12,931,287,890.1935.
“This gives a Recurrent/Capital Expenditure ratio of 44:56%, indicating the sincere commitment of our administration to both infrastructural and human capital development of our people and state.”
Governor Fubara said nearly N31 billion had 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.
He emphasised that the commitment was also to address food insecurity in Rivers State, provide land preparation, farm inputs and extension services, including training, tractors, and access to improved seedlings and fertilizers to farmers to enhance their productivity and farm yields.
In education, Governor Fubara assured that his administration would continue to provide access to quality education at all levels, ensuring Rivers children have the knowledge and skills they need to excel in their careers and contribute to the development of the state.
The governor said, “Consequently, we have proposed to spend over N63 billion, representing 9.3% of the budget on education in fiscal year 2025. With this, we shall access all outstanding matching grants from the Universal Basic Education Commission to rehabilitate, equip and furnish dilapidated public primary and junior secondary schools, and continue to provide free basic education to our children.
“We will also rehabilitate, equip and furnish as many senior secondary schools as possible across the State, including the provision of new classrooms, perimeter fencing, water and electricity, to provide a conducive environment for effective teaching and learning to take place.
“We shall work with the school-based management boards, administrators, parents and teachers to fix our broken school system, improve enrollments, keep learners in school, promote effective teaching, and improve learning outcomes.”
Governor Fubara said with the proposed N97.750 billion for the health sector, representing 14.4% of the budget, all zonal hospitals, the upgraded neuropsychiatric hospital, and the new general hospital at Rumuigbo under reconstruction wold be completed to provide quality and affordable healthcare services to the people of the state.
He also assured of rehabilitating more general hospitals, health centres across the state, ensure the procurement of essential drugs, medical supplies and equipment for effective and efficient healthcare delivery, while also providing more infrastructure to strengthen the capacity of the Rivers State University Teaching Hospital for quality, effective, and efficient tertiary healthcare services.
On Road and Transport Infrastructure, Governor Fubara said over N195 billion had been earmarked to complete all ongoing road projects and initiate new ones, support and facilitate the modernisation of the public transport system through necessary incentives to improve the quality of public transportation services in the state.
In his speech, Speaker, Rivers State House of Assembly, Rt Hon Victor Oko-Jumbo, applauded Governor Fubara for recording over N100 billion increase in Internally Generated Revenue (IGR), which shows high level of transparency and accountability in governance.
Oko-Jumbo pledged the continual support of the legislature to the excutive to ensure that the governor remained focused, sustain financial prudence, deliver democratic dividends, and make life better for the people.
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