By Mo. Hanif
A review of the Rivers State 2025 budget estimates has revealed that the state is expected to receive over N400 billion in revenue within six months, including N279.5 billion from the Federation Accounts Allocation Committee (FAAC).
This projection follows President Bola Ahmed Tinubu's appointment of a sole administrator to manage the state's affairs for six months amid the ongoing political crisis.
According to the budget document, Rivers State expects to receive N559.1 billion from FAAC in 2025, translating to an average monthly allocation of N46.5 billion. Over six months, this amounts to N279.5 billion.
For comparison, the state received N209 billion from FAAC between January and June 2024. The higher estimate for 2025 is attributed to projected national revenue growth, which has also influenced the federal government’s record-high budget.
Additionally, the state aims to generate N264.368 billion in internally generated revenue (IGR) for 2025, setting a monthly target of N22.03 billion. Over six months, this would total N132.18 billion.
Historical data suggests the state could exceed this target. Between January and June 2024, Rivers State generated N164 billion in IGR. By November 2024, IGR had already reached N282.56 billion, surpassing projections by over N51 billion.
If the projected N279.5 billion FAAC allocation and N132.18 billion IGR are combined, the sole administrator will oversee approximately N411.68 billion in six months.
With such substantial resources, all eyes will be on how the sole administrator manages these funds during this unprecedented governance period in Rivers State.