- Governor Fubara emphasizes inclusive growth; Assembly legitimacy in question
- Projected IGR increase of over N100 billion without new taxes
Governor Siminalayi Fubara of Rivers State has presented a 2025 budget proposal totaling N1.188 trillion to the Victor Oko-Jumbo-led faction of the State House of Assembly.
The budget, titled the “Budget of Inclusive Growth and Development,” allocates N462.25 billion to recurrent expenditure and N678.08 billion to capital projects, reflecting a 44:56 percent ratio. Fubara stated that the budget aims to achieve sustainable economic growth, accelerate state development, and improve residents’ living standards.
During the presentation, Fubara highlighted significant achievements in road infrastructure, healthcare, education, and security. He also announced a projected increase in the state’s internally generated revenue (IGR) for 2024, expecting it to exceed N300 billion by December—an increase of over N100 billion compared to 2023. The governor attributed this growth to improved domestic resource mobilization without introducing new taxes.
However, the legitimacy of the assembly to which the budget was presented is under scrutiny. The Rivers State House of Assembly has been embroiled in a factional crisis since 2023, following a feud between Governor Fubara and Nyesom Wike, the Minister of the Federal Capital Territory. The assembly is divided between the Victor Oko-Jumbo-led faction, recognized by Governor Fubara, and the Martin Amaewhule-led faction, which claims legitimacy.
In October 2024, a federal high court in Abuja restrained the Central Bank of Nigeria from disbursing financial allocations to the Rivers State government, citing the absence of a lawful appropriation act passed by a validly constituted House of Assembly. This ruling followed the presentation of the 2024 budget to a five-member assembly, which the court deemed improperly constituted.
Despite these legal challenges, Governor Fubara proceeded with the 2025 budget presentation to the Oko-Jumbo-led assembly. The ongoing assembly crisis raises questions about the constitutional validity of the budget approval process and the potential implications for the state’s financial operations.
As the situation unfolds, stakeholders and residents await further developments regarding the resolution of the assembly’s legitimacy and the subsequent impact on the state’s governance and budget implementation.
For a visual overview of the recent actions taken by the Rivers State House of Assembly amid the ongoing crisis, you can watch the following video:
