Rivers State Governor Siminalayi Fubara has presented the 2025 Appropriation Bill, valued at N1.19 trillion, to the Victor Oko-Jumbo-led State House of Assembly. The budget allocates N462 billion for recurrent expenditure and N678 billion for capital expenditure, with a planning reserve of N35.7 billion and a closing balance of N12.9 billion.
Governor Fubara emphasized that the budget, themed “Budget of Inclusive Growth and Development,” reflects his administration’s commitment to sustainable economic growth, infrastructure development, and improved living standards for Rivers residents. He highlighted the government’s strategy to strengthen the economy against external shocks, build resilience, and foster collective prosperity.
The 2025 budget is based on key economic assumptions, including an oil price benchmark of $80 per barrel, oil production of 1.8 million barrels per day, an exchange rate of N1,500 to $1, and a 22% inflation rate. The governor also projected GDP growth of 3.18% and an increase in internally generated revenue to at least 35% of the total budget.
The revenue sources for the budget include internally generated revenue, statutory allocations, value-added tax, refunds, loans, grants, and asset sales. Expenditures cover personnel costs, new recruitments, pensions, infrastructure, education, health, and agriculture, among other critical sectors.
Fubara assured the Assembly of his administration’s determination to improve the ease of doing business, attract investments, and stimulate job creation. He reiterated the government’s focus on ensuring a realistic and flexible budget that aligns with the state’s devel
