Port Harcourt, Nigeria – Concerns are mounting over the management of Rivers State’s finances, with the non-release of a crucial quarterly budget performance report sparking questions about accountability under the leadership of the sole administrator, retired Vice Admiral Ibok-Ete Ibas.This development coincides with the Senate’s swift formation of an 18-member committee tasked with exercising legislative oversight over the state’s affairs.
Rivers State has failed to publish its budget performance report for the first quarter of 2025 (January-March), breaking a consistent pattern of fiscal transparency observed from the fourth quarter of 2023 through the entirety of 2024. These reports, typically released within 30 days following the end of each quarter, provide a vital breakdown of how public funds are allocated and utilized.
The lapse in reporting comes approximately two months after President Tinubu’s suspension of Governor Siminalayi Fubara and the subsequent imposition of emergency rule in Rivers State, which led to the appointment of Vice Admiral Ibas as the sole administrator.
With the absence of the latest performance report, apprehension is growing regarding the handling of substantial funds expected to accrue to the state during Vice Admiral Ibas’s six-month tenure. Projections indicate that Rivers State is slated to receive an estimated N279.5 billion from the Federation Accounts Allocation Committee (FAAC) over this period. This, combined with an anticipated N132 billion in internally generated revenue (IGR), places at least N411.7 billion under the sole administrator’s purview.
In response to these developments, the Senate took decisive action on Tuesday, establishing an 18-member committee to provide crucial legislative oversight of Vice Admiral Ibas’s administration. Senate President Godswill Akpabio, during the committee’s inauguration, emphasized the “critical” nature of their assignment in upholding democratic principles and ensuring accountability regarding the sole administrator’s actions.
Senator Akpabio urged the committee to commence its work without delay, underscoring the urgency of the situation and reiterating the Senate’s “commitment to good governance and accountability” within Rivers State.
Adding another layer to the unfolding situation, former Rivers State Governor Rotimi Amaechi recently suggested a financial dimension to the state’s political instability. In a recent interview, he stated, “The fight between the current governor of Rivers State and the FCT minister is about sharing money…,” directly linking the political turmoil to disputes over financial resources.
The Senate’s intervention signals a move to assert legislative control and ensure transparency in the management of Rivers State’s significant financial resources during this period of sole administration. The newly formed committee’s work will be closely watched as stakeholders seek clarity on the state’s fiscal operations.
