Rivers N1.48 trillion 2025 Budget Reaches Second Reading At Senate

The New Diplomat
Writer

Ad

$4.5bn: Court Admits More Evidence Against Emefiele

Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on October 9,2025, admitted more evidence against a former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in an alleged $4.5bn fraud. Emefiele is standing trial on a 19-count charge bordering on receiving gratification and corrupt demand preferred against him by…

NEITI Warns of Deepening Transparency Crisis, Says Nigeria Lost $3.3bn to Oil theft, Sabotage

By Obinna Uballa Nigeria lost an estimated 13.5 million barrels of crude oil valued at $3.3 billion to theft and pipeline sabotage between 2023 and 2024, the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. Executive Secretary of NEITI, Dr. Ogbonnaya Orji, disclosed this on Thursday at the 2025 Association of Energy Correspondents of Nigeria…

Oil Eases over 1.5% after Gaza ceasefire

Summary Israel and Hamas agree to Gaza ceasefire, return of hostages US oil product supplied highest since December 2022, EIA says Stalled peace talks in Ukraine underpin prices Oil prices edged slightly lower on Thursday after Israel and the Palestinian militant group Hamas signed an agreement to cease fire in Gaza. Brent crude futures were…

Ad

By Abiola Olawale

The Nigerian Senate, on Wednesday, May 28, 2025 passed the Rivers State 2025 budget for its second reading.

The budget, totaling ₦1.48 trillion, was passed for a second reading after it was presented by Senate Leader Bamidele Opeyemi and swiftly approved through a voice vote led by the President of the Senate, Senator Godswill Akpabio.

Bamidele, in his address on the floor, stated that the budget is designed to ensure smooth government operations under an emergency governance structure in the state.

He further underscored that the proposal aims to promote inclusive growth and development with a focus on improving the standard of living for residents.

Following the decision of the Senate, the budget has been referred to the Ad-hoc Committee overseeing the Rivers State of Emergency for further deliberation.

The Senate also directed the Sole Administrator of Rivers State, Vice Admiral Ibok-Ete Ibas to defend the budget before a joint National Assembly committee.

This move comes as Rivers State grapples with a state of emergency, prompting the Senate to assume legislative responsibilities for the state.

Recall that President Bola Tinubu had written to the Senate and the House of Representatives, seeking the consideration and approval of ₦1.48 trillion Appropriation bill for Rivers State

The budget allocates ₦324 billion for infrastructure, ₦166 billion for health, ₦75.6 billion for education, and ₦31.4 billion for agriculture, with an ambitious goal of creating 6,000 jobs.

Also, ₦120.8 billion is earmarked for debt servicing,₦287.3 billion is allocated for recurrent (non-debt) expenditure, and ₦1.07 trillion is designated for capital expenditure.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp