Business News of Friday, 20 June 2025

Source: www.dailypost.ng

Rivers: Fubara drafted 85% of N1.48 trillion 2025 budget by Sole Administrator

The Nigerian Senate has said that about 85 percent of the N1.48 trillion 2025 Rivers State budget submitted by its sole administrator, retired Vice Admiral Ibok-Ete Ibas, was originally drafted by the suspended Governor Siminalayi Fubara.

Chairman of the Senate Ad-Hoc Committee on Emergency Governance in Rivers State, Senator Opeyemi Bamidele, made this revelation on Thursday during a budget defence session with Ibas and key state officials at the National Assembly.

According to him, the Red Chamber had thoroughly reviewed the details of the budget in the last three weeks.

Bamidele noted that only 15 percent of the budget was added by the current administrator to accommodate new projects.

“Our findings show that at least 85 percent of the submitted estimates were drawn up under the Fubara administration,” he said.

He added that the IBAS has requested a N50 billion supplementary budget to address outstanding pensions and gratuities.

DAILY POST reported that Ibas, in early June, said the state’s 2025 budget envisaged the return of Fubara.

The development comes months after the president declared a state of emergency in the state.