A budget review has revealed that Rivers State is projected to receive over N400 billion in revenue within six months under the administration of a sole administrator appointed by President Bola Tinubu. This includes an estimated N279.5 billion allocation from the Federation Accounts Allocation Committee (FAAC).
According to Sahara Reporters, in a report seen by Truth Live News, the 2025 budget estimates show that Rivers State expects a total FAAC allocation of N559.1 billion for the year, translating to an average monthly inflow of N46.5 billion. This means that between January and June 2025, the state could receive N279.5 billion.
Comparatively, from January to June 2024, Rivers State received N209 billion from FAAC, with the higher estimate for 2025 likely driven by anticipated national revenue growth.
In addition to federal allocations, Rivers State aims to generate N264.368 billion in internally generated revenue (IGR) for 2025, averaging N22.03 billion per month. Over six months, this would amount to N132 billion. However, past records indicate the state may surpass this target, as it generated N164 billion in IGR between January and June 2024.
If both FAAC and IGR projections hold, the sole administrator could manage over N411.7 billion within six months, raising concerns about how the funds will be utilized.