Rivers State Government has revealed how over ₦302 billion was spent during the six-month administration of former sole administrator, Vice Admiral Ibok-Ete Ibas (Rtd), between March and August 2025. The state received over ₦253.48 billion from the Federation Account Allocation Committee (FAAC) within the six-month period, with additional inflows of over ₦44.87 billion bringing the total receipts to approximately ₦298.35 billion.
However, the total expenditure within the same period rose to over ₦302.35 billion, covering FAAC allocations and other funds. The government submitted 49-page supporting documents, including bank statements and capital expenditure records, detailing the spending pattern. The documents showed that ₦112.41 billion was spent on salaries, pensions, and overheads, while ₦163.44 billion was allocated to ministries, departments, and agencies (MDAs).
The affidavit also revealed that over ₦106 billion of the MDA allocation was disbursed in August alone, reflecting a heavy concentration of spending within a single month. Loan servicing accounted for a significant portion of expenditure, with ₦26.01 billion spent on repayments and an additional ₦491.59 million on bank charges.
Multiple transfers to Government House were recorded, ranging from ₦1.8 million to ₦4.27 billion. On capital projects, the affidavit disclosed that ₦28 billion was approved for the installation of Closed Circuit Television (CCTV) at the State House, but no expenditure was incurred on the project. The state's closing balance as of August 2025 stood at ₦19.93 billion.
SERAP Deputy Director, Kolawole Oluwadare, stated that the organisation was reviewing the documents to determine compliance with its request. The defendants maintained that they had complied with the Freedom of Information Act by providing the requested documents.
The Rivers State Government's revelation of how over ₦302 billion was spent during Vice Admiral Ibok-Ete Ibas's six-month administration raises serious questions about transparency and accountability. The heavy concentration of spending in August alone, with over ₦106 billion allocated to ministries, departments, and agencies, suggests a lack of fiscal discipline. The repeated transactions involving Government House, including transfers ranging from ₦61.9 million to ₦4.27 billion, also raise concerns about the misuse of public funds. The fact that ₦28 billion was approved for CCTV installation at the State House but no expenditure was incurred on the project is a clear case of wasteful spending. The Rivers State Government must provide clear explanations for these discrepancies and ensure that public funds are used judiciously.
