By Atoyebi Nike
The Senate has passed for second reading a bill authorizing the issuance of ₦1.48 trillion from the Consolidated Revenue Fund for the 2025 fiscal year in Rivers State.
Titled “A Bill for an Act to Authorise the Issue from the Consolidated Revenue Fund of Rivers State,” the proposal was presented by Senate Leader, Senator Opeyemi Bamidele, during Tuesday’s plenary.
A breakdown of the spending includes:
₦120.8 billion for debt servicing
₦287.3 billion for recurrent expenditure
₦1.07 trillion for capital projects
Bamidele said the budget is tailored to sustain governance under the current emergency rule in the state, with a focus on inclusive development and improved living standards.
The bill has been referred to the ad hoc committee on Rivers State emergency rule, which will report back within two weeks.
President Bola Tinubu had earlier written to both chambers of the National Assembly, seeking approval of the emergency budget. He stated that the funds would support education, agriculture, healthcare (including free drugs), and other services under the interim administration.
Tinubu declared a state of emergency in Rivers on March 18, 2025, citing escalating political instability. He invoked Section 305 of the 1999 Constitution to suspend Governor Siminalayi Fubara, his deputy Ngozi Odu, and the entire State Assembly for six months.
Rear Admiral Ibok-Ete Ibas (rtd) was appointed to oversee the state as sole administrator.
This marks the first emergency rule since 2013, when former President Goodluck Jonathan imposed it on Borno, Yobe, and Adamawa during the peak of Boko Haram insurgency.
Senate President Godswill Akpabio also constituted an 18-member oversight committee, led by Senator Bamidele, to supervise the interim governance and budget implementation in Rivers.
