The Senate’s Ad Hoc Committee on Emergency Rule Oversight has initiated a comprehensive review of Rivers State’s proposed N1.846 trillion 2025 budget, marking a crucial phase in the state’s financial oversight.
This budget, the largest in the state’s history, represents a significant 86.6% increase from the previous year, underscoring the state’s growing financial commitments and the administration’s efforts to address pressing challenges.
The Sole Administrator of Rivers State, Vice Admiral Ibok-Ete Ekwe Ibas, provided insights into the budget’s formulation. He explained that the original budget framework, of which 85% was inherited from the previous administration, underwent a 15% upward revision. This revision was aimed at addressing three critical areas which are insecurity, mending broken systems and promoting peace.
The Senate committee’s primary objective is to ensure transparency and accountability in the budget’s execution. To achieve this, the committee will monitor how funds are utilised project-by-project and sector-by-sector; Assess the budget’s impact on the people, focusing on tangible outcomes and deliverables and identify and rectify any issues that may hinder the budget’s effective implementation.
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Despite the budget scrutiny, residents of Rivers State have expressed concerns about the emergency regime’s effectiveness. Business owners and traders are being subjected to multiple taxation, which is exacerbating economic hardship. The state’s economy is struggling, with low business patronage and widespread harassment by tax collectors.
Residents are questioning the regime’s ability to achieve its intended purpose, citing the worsening economic decline and fragile peace in the state. The Senate committee’s scrutiny of the budget is a critical step towards ensuring that approved funds are utilised effectively and efficiently.
By tracking the budget’s execution and assessing its impact, the committee aims to guarantee that public funds are used for their intended purposes; support initiatives that deliver tangible benefits to the people of Rivers State; demonstrate the regime’s commitment to good governance and accountability, thereby restoring trust in public institutions.
Through this process, the Senate committee seeks to ensure that the budget serves the best interests of the people of Rivers State, addressing their needs and promoting sustainable development.
