Rivers State To Receive Over N400bn in Six Months Under Sole Administrator
Rivers State is set to receive more than N400 billion in revenue over the next six months, according to fresh budget estimates, with a significant portion coming from the Federation Accounts Allocation Committee (FAAC).
The financial projection follows President Bola Tinubu’s decision to appoint Vice Admiral Ibok-Ete Ibas (retd.) as the sole administrator of the state after prolonged political crises.
The move aims to stabilise governance in Rivers, where political tensions have disrupted democratic processes.
Budget documents indicate that Rivers State is expected to receive a total of N559.1 billion from FAAC in 2025, translating to an average monthly allocation of N46.5 billion.
Over six months, the state is projected to collect N279.5 billion from FAAC alone.
Comparatively, in the first half of 2024, Rivers State received N209 billion from FAAC.
The higher projections for 2025 are attributed to an anticipated increase in national revenue, which has also influenced a record-high federal budget.
Aside from FAAC allocations, the state aims to generate N264.368 billion in internally generated revenue (IGR) throughout the year, with a monthly target of approximately N22.03 billion.
Historical records suggest that this target may be exceeded, given that Rivers State generated N164 billion in IGR between January and June 2024.
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With these figures combined, the state under the sole administrator is projected to manage over N400 billion (N411.73 billion) within the next six months.
Despite this financial outlook, concerns have been raised about how the funds will be utilised.
Critics argue that the ongoing political struggle in Rivers State is largely centred around control of its financial resources.
Some observers suggest that this power struggle is a key factor in the crisis between Governor Siminalayi Fubara and other political stakeholders.
Vice Admiral Ibok-Ete Ibas’ appointment came after President Tinubu declared a state of emergency in Rivers State, citing persistent governance issues.
Tinubu justified his decision by stating that the crisis had deprived the people of Rivers State of democratic benefits.
“The governor’s actions, including the demolition of the House of Assembly, have prevented the state from moving forward,” Tinubu stated, accusing Governor Fubara of unconstitutional behaviour.
The crisis escalated following a Supreme Court ruling on February 28, 2025, which criticised the governor’s actions and deemed them a violation of the rule of law.
As the sole administrator takes charge, attention is focused on how the state’s financial resources will be managed and whether the deep-seated political tensions will be resolved.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
