The governor signed the budget during the state’s monthly Project Delivery Meeting held at Government House, Uyo, commending the House of Assembly for the swift passage of the bill and reaffirming his commitment to transparency and accountability.

“To the people of Akwa Ibom, I assure you that we remain focused on delivering impactful governance. The supplementary budget gives us greater momentum to implement key projects,” he said.

The supplementary budget includes ₦125.66 billion for recurrent expenditure and ₦569.33 billion for capital projects. It will be funded through statutory allocations, internally generated revenue, derivation funds, arrears, VAT, exchange gains, and signature bonuses.

As part of efforts to accelerate infrastructure development, ₦60 billion was released to contractors with verified Interim Payment Certificates. Ministries, Departments, Agencies, and Delivery Advisors were directed to ensure strict compliance with timelines and quality standards.

Read Also: Edo Govt Approves N799.8bn Revised Budget, Increases Capital Spending

The Project Delivery Meeting featured presentations on key initiatives across agriculture, energy, tourism, healthcare, infrastructure, and transportation. Projects highlighted included the Tree Crop Revolution, Ibom Model Farm, CNG Bus Project, General Hospitals, Aviation Village, and the Itam Industrial Park, among others.

The Speaker praised the governor’s inclusive leadership and said the regular delivery reviews provide a strong framework for legislative oversight. He pledged continued support for the administration’s development agenda.

Source: Channels

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Ibas made this known in Abuja while defending the budget before the House of Representatives Ad-Hoc Committee on Rivers State Oversight.

According to him, the proposed budget aligns with the strategic objectives of the River State Development Plan 2017-2027.

He also noted that the proposal presents a strategic and integrated framework designed to raise revenues and accelerate infrastructure development, enhance human capital, and promote inclusive economic growth across all sectors.

He, however, accused some suspected Rivers State officials of failure to provide the administration with useful information required to prepare the budget proposal.

Ibas added that some state officials withheld critical information required to ensure a more complete capture of those expenditures at the time of submission of the budget estimates.

The budget, totalling ₦1.48tn in expenditure with a projected ₦1.4tn in revenue, was transmitted to the National Assembly following presidential approval after the Supreme Court ruled on the legality of the Rivers State 2025 appropriation process.

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The Nigeria House of Senate has approved the 2025 Appropriation Bill, passing a total budget estimate of ₦54.99 trillion.

The budget includes allocations for statutory transfers, recurrent expenditures, capital projects, and debt servicing, with a fiscal deficit of ₦13.08 trillion.

Key breakdowns are as follows: Total Expenditure: ₦54.99 trillion; Statutory Transfers: ₦3.65 trillion; Recurrent (Non-Debt) Expenditure: ₦13.64 trillion; Capital Expenditure: ₦23.96 trillion; Debt Servicing: ₦14.32 trillion; Deficit-to-GDP Ratio: 1.52%.

Recall that Tinubu initially proposed a ₦49.7 trillion budget, but increased it to ₦54.2 trillion on February 5 after reporting additional revenue generated by key agencies.

Read Also: Tinubu raises 2025 budget from ₦49.7trn to ₦54.2trn

In letters to the Senate and House of Representatives, read by Senate President Godswill Akpabio, Tinubu detailed the sources of the additional revenue: ₦1.4 trillion from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion from other government agencies.

Meanwhile, the House of Representatives had earlier passed the ₦54.99 trillion 2025 Appropriation Bill.

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He emphasised the importance of accountability, stressing that every kobo must be properly utilised to strengthen the country’s healthcare system.

According to the former Vice President, there have been bizarre claims of animals being held accountable for missing public funds in recent years, adding that some of these claims were never investigated or punished to deter future offenders.

Read Also: Tinubu raises 2025 budget from ₦49.7trn to ₦54.2trn

Atiku further said the Federal Government has to be deliberate about putting mechanisms in place for public audit and accountability in its $1.07bn budgetary appropriation in the health sector.

He criticised the Federal Government for failing to provide a clear framework detailing how over $1bn would be spent in the primary health sector.

Atiku noted that while healthcare investment was essential for improving access to quality services, the government has a moral duty to disclose how these funds will be utilised.

The former Vice President stated that the Federal Government plans to expend a whopping $1.07bn in the primary health sector- the amount in addition to the N2.48tn earlier proposed for the health sector in the initial budget draft.

Atiku added that Nigerians deserve to know the details of these loans and how the funds will be spent. The budget should be accompanied by a clear policy framework explaining its disbursement.

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The President conveyed the budget adjustment in separate letters sent to both the Senate and the House of Representatives, which were read during Wednesday’s plenary by the Senate President, Godswill Akpabio.

Read Also: Tinubu Presents N47.9tn 2025 Budget Proposal To NASS

Tinubu said the increase was driven by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service and ₦1.8 trillion generated by other government-owned agencies.

Following the announcement, Akpabio referred the President’s request to the Senate Committee on Appropriations for urgent consideration.

He assured lawmakers that the budget would be finalised and passed before the end of February.

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The governor made this assertion while signing the 2025 Appropriation Bill, amounting to ₦1.1 trillion, into law, a week after submitting it to the Oko-Jumbo-led Assembly.

Fubara declared that Martins Amaewhule and 26 other members who defected from the Peoples Democratic Party, PDP, to the All Progressives Congress, APC, seize to be recognised as legislators despite their recent efforts at renouncing their actions.

Read Also: Senate passes 2025 budget for second reading

The Amaewhule group is loyal to former Rivers Governor and the Minister of the Federal Capital Territory, Nyesom Wike, who has been at loggerheads with Fubara.

The Governor emphasised that despite granting them ample time to reconsider their stance, the decision to disqualify them is final and irreversible.

He said no governor in Nigeria has endured the level of disrespect he had endured, adding that his focus remains on steering Rivers State toward greater accomplishments.

He said the appropriation provides for spending till December 31st, 2025, and contains 12 sections.

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The budget tagged “Budget of Sustainable Growth and Transformation” is the total sum of Four Hundred and Twenty-Seven Billion, Seven Hundred and Forty-Six Million, Nine Hundred and Twenty-Five Thousand, One Hundred and Seventy Naira (₦427,746,925.170.00).

Read Also: Gov Adeleke presents N390bn budget proposal to Assembly

The Governor directed Ministries, Agencies, and Departments to vigorously pursue the implementation for the benefit of the citizens of the state, stating that the budget performance must continue to be commendable every quarter.

He then assured Osun people that the budget would be rigorously implemented to deliver on public expectations, adding that “The Appropriation Act will be our faithful instrument to deliver on the five-point agenda for good governance.

He commended the Ministry of Economic Planning, Budget and Development for upholding professionalism all the way even as he appreciated the House Speaker and other members of the State Assembly.

In his earlier remark, the Speaker of the Osun House of Assembly, Adewale Egbedun said the signing ceremony was the final stage of the rigorous processing of budgetary estimates with an eye on public benefits.

According to him, the budget as passed by the House embodied the vision and agenda of the executive mixed with perspectives of the legislature as the elected representatives of the people.

The Commissioner for the Ministry of Economic Planning, Budget, and Development, Prof Moruf Adeleke, gave a technical breakdown of the 2025 budget, assuring the public that all the parameters flow from the deep interest of Governor Adeleke for the people of Osun state.

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The budget was passed during plenary after various deliberations on the general principles of the bill by senators who applauded President Bola Tinubu for his good intentions for the country.

The budget was later referred to the Committee on Appropriations after being put to a voice vote by the Senate President, Godswill Akpabio, who presided over the session.

The Committee on Appropriations is chaired by Senator Solomon Adeola.

Tinubu had on Wednesday presented the 2025 Budget of Restoration to a joint session of the National Assembly, targeting peace and prosperity with a revenue projection of ₦34.82tn to fund the aggregate expenditure of ₦47.9tn.

Read Also: Tinubu Presents N47.9tn 2025 Budget Proposal To NASS

In the proposed budget, which has a deficit of ₦13.0tn, Tinubu earmarked ₦4.91tn for Defence and Security, ₦4.06tn for Infrastructure, ₦3.5tn for Education, and ₦2.48tn for Health.

The President, in his budget speech, also disclosed that ₦15.81tn is allocated for debt servicing, with salient parameters including 2.06 million barrels of oil production per day, an exchange rate of ₦1,500 to a US dollar, and an inflation rate of 15%, down from the current 34.6%.

He informed federal lawmakers that a series of economic reforms being carried out by his government are yielding positive results, saying, the economy grew by 3.46 per cent in the third quarter of 2024, up from 2.54 per cent in the third quarter of 2023.

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The budget proposal was earlier approved by the Federal Executive Council on Monday.

This comes after the Senate endorsed the Medium-Term Expenditure Framework, MTEF, 2025-2027 on November 22 .

Read Also: FEC orders final adjustments as Tinubu presents 2025 budget on Wednesday

Tinubu’s presentation is expected to align with the fiscal strategies outlined in the MTEF and Fiscal Strategy Paper, FSP.

The budget size remains unchanged at N47.96 trillion, with new borrowings of N9.22 trillion.

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This follows the Senate’s endorsement of the Medium-Term Expenditure Framework 2025 – 2027 on November 22.

President Bola Tinubu will present the proposed N47.96tn budget to the joint session of the National Assembly on Wednesday. The exercise, earlier slated for Tuesday (today), was postponed to allow the executive arm to make final adjustments to the budget.

Read Also: Tinubu shifts 2025 budget presentation to Wednesday

A top management official of the National Assembly confirmed the postponement on Monday, which was further corroborated by the Minister of State for Agriculture, Sabi Abdullahi.

Previously, Senate President, Godswill Akpabio, had announced during a plenary session that the President would present the budget on Tuesday at the House of Representatives chamber.

Akpabio added that plenary would begin at 10:30am to allow senators convene in the Red Chamber before proceeding in a procession to the House chamber for the presentation.

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