The Senate has passed through second reading a bill seeking to authorise the issuance of 1.48 trillion naira from the Consolidated Revenue Fund for the 2025 fiscal year for Rivers State.

The bill titled ‘Bill for an Act to Authorise the Issue from the Consolidated Revenue Fund of Rivers State’, was read on the floor of the Senate by Senate Leader, Senator Opeyemi Bamidele, during plenary.

According to the breakdown of the proposed spending plan:

₦120.8 billion is earmarked for debt servicing,

₦287.3 billion is allocated for recurrent (non-debt) expenditure, and

₦1.07 trillion is designated for capital expenditure.

Bamidele stated that the budget is designed to ensure smooth government operations under an emergency governance structure in the state.

He further underscored that the proposal aims to promote inclusive growth and development with a focus on improving the standard of living for residents.

The bill is now transferred to the ad hoc committee on Rivers emergency rule to supervise and revert in two weeks.