Rivers State, a significant economic center in Nigeria, was notably missing from the recently published 2025 State Fiscal Performance Index, which has raised alarms about the transparency and financial stability of the state government.
Created by BudgIT, the index evaluates states based on their debt sustainability, revenue generation, and budget reliability.
BudgIT stated that Rivers was omitted due to the lack of pertinent data stemming from months of political turmoil in the region.
In March, President Bola Tinubu imposed a state of emergency in Rivers, suspending Governor Siminalayi Fubara, his deputy, and all elected representatives, and appointed retired Vice Admiral Ibok-Ete Ibas to manage the state’s affairs.
After six months, these officials were reinstated on September 18, following the president’s announcement to end the emergency rule. BudgIT clarified: “Rivers State is absent from this report due to the removal of elected officials during the state of emergency.
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The state was unable to provide an audited financial statement by the time the final data for this report was compiled.
“The consequences are substantial, as Rivers’ absence from the rankings means that its typical top-five position will be filled by another state. This also impacts comparisons of subnational IGR performance, especially since Rivers significantly influences national averages.
“For example, in 2023, Rivers’ total FAAC allocation surpassed the combined FAAC allocations of Zamfara, Plateau, Sokoto, and Ogun. We anticipate including the state in the 2026 edition following the conclusion of the emergency period.”
The exclusion of Rivers State is striking, considering it ranked first in BudgIT’s 2024 State Fiscal Performance Report in several critical categories, including minimal reliance on FAAC (Index A), the capacity to carry out capital expenditure after fulfilling operating and loan obligations (Index B), and emphasizing capital spending over recurrent expenses (Index D).
With Rivers absent, other states have advanced in the rankings. Anambra has taken the top spot for the 2025 fiscal performance list, followed by Lagos, Kwara, Abia, and Edo.
At the bottom of the rankings are Plateau, Kogi, Jigawa, Benue, and Yobe States.
The report also identified Enugu, Lagos, Abia, Anambra, Kwara, and Ogun as states with the least reliance on federal allocations, showcasing greater fiscal independence if they operated on their own. In contrast, Imo, Kogi, Jigawa, Benue, and Yobe were ranked lowest in this regard, indicating a heavy dependence on federally distributed revenues.
BudgIT encouraged states with lower rankings to bolster their Internally Generated Revenue (IGR) base and enhance their business climates to facilitate domestic resource mobilization.
“The states with lower rankings must intensify efforts to increase IGR or cut down on operational expenses to attain fiscal sustainability,” the report emphasized.
