Isaac Samuel
Rivers State Sole Administrator, Vice Admiral Ibok-Ete Ibas (retd), has accused officials of the suspended administration of Governor Siminalayi Fubara of withholding key financial records, which he said complicated efforts to prepare a transparent and credible 2025 budget.
Ibas, who spoke on Wednesday before the House of Representatives Ad-Hoc Committee on Rivers State Oversight, said expenditures by the Fubara-led team were clearly understated and that officials deliberately failed to cooperate with the transitional administration.
President Bola Tinubu had last month transmitted a budget proposal of N1.48 trillion for the Rivers State Government to the National Assembly for consideration and passage.
Speaking during the budget defence, Ibas explained that the uncooperative stance of the officials hindered a full accounting of funds already expended by the suspended administration during the first quarter of 2025 prior to the declaration of a state of emergency in the state by President Tinubu.
Ibas however, stressed that the budget proposal submitted to the National Assembly was revised to integrate available expenditure information in order to ratify the first quarter spending in a lawful and transparent structure.
He said: “We are optimistic that implementing the 2025 budget proposal will deliver great socioeconomic benefits for the people of River State. While the records available to me on the 2024 budget and its actual performance remain a source of concern, the quick review of the official records for the 2024 budget shows that the total revenue of the River State Government was N1.04 trillion, compared to a target of N800.39 billion.
“This represents N250 billion, or 31.6 per cent above the budget target. On the expenditure side, the official performance report shows the total expenditure was N740.74 billion, which was N52.7 billion, or 6.7 per cent less than the spending target. It is my well-considered opinion that the expenditures are clearly understated.
“The total revenue projected for the 2025 fiscal year is N1.4 trillion. As of May 2025, total revenue inflows were N597.14 billion, which is only about four per cent less than our projection. The total expenditure planned for 2025 is N1.48 trillion.The proposed 2025 budget was particularly designed to account for unregularized expenditures already undertaken during the first quarter of the fiscal year by the suspended administration, before the state of emergency declaration by His Excellency President Bola Tinubu.
“Regrettably, some state officials withheld critical information required to ensure a more complete capture of those expenditures at the time of submission of the budget estimates. However, recognizing the exigencies under the state of emergency and the need to ensure fiscal credibility, the budget framework integrates expenditure information made available before the submission of the budget proposal to ratify the first quarter expenditures in a lawful and transparent structure.
He said this would ensure alignment with statutory appropriation protocols while safeguarding the integrity of public finance management.
He further disclosed that the 2025 draft budget retains funding provisions for offices and functions of suspended political actors, some of whom, he noted, had drawn down on allocated funds earlier in the year and are expected to resume official duties at the expiration of the emergency period.
Speaking, Chairman of the House Committee on Rivers State Oversight, Hon. Julius Ihonvbere, commended the administrator for his detailed briefing and reaffirmed the committee’s commitment to supporting the peace and development efforts in the state.
“This committee is committed to working with you to restore stability, peace, growth, and development in Rivers State. Rivers has always been a shining example of what is possible with good leadership,” Ihonvbere said.
