Governor Siminalayi Fubara of Rivers State has signed the 2025 appropriation bill into law.
Fubara signed the N1.1 trillion appropriation bill at the government house in Port Harcourt on Thursday.
On Monday, December 30, the Governor presented the budget proposal to the four-member Rivers State House of Assembly led by factional speaker, Victor Oko-Jumbo.
In the budget tagged the “Budget of Inclusive Growth and Development,” a total of N462,254,153,418 was allocated to recurrent expenditure and N678,088,433,692 for capital projects.
This brings the total appropriation to N1,188,962,739,932.
Speaking during the budget presentation, Fubara said the state has recorded “unprecedented investments and significant impact” in road infrastructure, healthcare, education, and security.
The governor also announced a major boost in the state’s internally generated revenue (IGR) in 2024.
He projected the 2024 IGR would exceed N300 billion by December—an increase of over N100 billion compared to 2023.
Fubara noted that the growth was achieved without introducing new taxes, attributing the success to improved domestic resource mobilisation.He said the state had met all its 2024 debt obligations without taking new loans, achieving full implementation of its recurrent budget.
“We are expecting the internally generated revenue for 2024 to close at over N300 billion by the end of December 2024, which is over N100 billion more than the total receipts for 2023,” Fubara said.
