Rivers Governor, Fubara Presents 2025 Budget Of ₦1.188trn To Five-Member Assembly
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Rivers State Governor, Siminalayi Fubara, on Monday presented a budget estimate of ₦1.188 trillion for the year 2025, to a five-member State House of Assembly for consideration and approval.
He presented the 2025 Appropriation Bill to lawmakers at the Assembly Auditorium, located at the Administrative Block of Government House in Port Harcourt.
Christened: “Budget of Inclusive Growth and Development”, the budget figure is an increase from the 2024 budget of ₦800 billion.
It will be implemented to achieve sustainable economic growth, accelerate the development of the State, as well as improve the living standards of all residents in the State.
The Governor explained that with the set out objectives, the 2025 budget will 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.
“The total projected revenue for Rivers State for the 2025 Fiscal Year is ₦1,188,962,739,932.36. Two components of the budget are constituted as follows:
The budget which is made up of ₦462.3 Recurrent Expenditure; ₦678.1 Capital Expenditure, will be funded from FAAC, Internally Generated Revenue, Statutory Allocations, Mineral Funds, Valued Added Tax, Refunds/Escrow/ECA and others.
Fubara explained that the 2024 budget performed excellently with IGR figure hitting ₦100 billion increase over the 2023 figure.
In his remarks, the Speaker of Assembly, Victor Oko-Jumbo, applauded Governor Fubara for recording over ₦100 billion increase in IGR, which, according to him, 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.
… NigerDeltaToday
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