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Wike’s N480bn 2019 Appropriation Bill Passes First Reading …RSG Earmarks N33bn For Pension, Promotion Arrears
The 2019 Appropriation Bill presented by the Rivers State Governor, Chief Nyesom Wike to the Rivers State House of Assembly has passed first reading on the floor of the House yesterday.
Speaker of the Rivers State House of Assembly, Rt. Hon. Ikuinyi-Owaji Ibani described the budget as one full of hope for the people of the state.
In his words, “Rivers State has taken off in the past three years. We have seen development in all sectors, and it is the spirit embedded in the budget that gives us hope as legislators”.
Rt. Hon. Ibani said from the proposal so far placed before the Assembly, all sectors of the economy are well taken care of, noting that, “the cardinal objectives of the budget will enhance job opportunities, employment for the citizenry”.
He promised that the bill be given serious attention especially in tandem with the Medium Term Expenditure Framework recently approved by the House.
On his part, Majority Leader of the House, Hon. Martins Amaewhule commended members for attending the plenary and for their commitment towards the state development.
While presenting the appropriation bill, Chief Wike proposed N480 billion for next year’s budget.
Tagged, “Budget of Sustainable Growth and Development”, Capital Expenditure gulped the highest share with N323.2 billion. Recurrent has N157 billion.
A further breakdown shows that the Social Sector had N170 billion, Health N25 billion, Works N72 billion, while Security had N18 billion.
Other sectors that received attention include Administration with N17 billion, Law/Justice N4.3 billion.
The budget according to Wike will be funded with projected Federal allocated revenue, Value Added Tax (VAT), credit and loans and internally generated revenue.
The governor explained that other projections for the budget will be hinged on oil production of N2 million barrels per day, N10.9 inflation rate as against 9 percent projected by the Federal government.
He maintained that the budget will be focused on job creation, human capital development, water and sanitation and improving transport infrastructure in the State.
Presenting the 2019 Appropriation Bill to the House, Wike said the strategic thrust for the 2019 budget is to promote economic growth and diversification, create jobs and reduce unemployment; take as many of Rivers people out of poverty and improve the standard of living of Rivers State.
The budget is premised on an oil price bench mark of 55 United States Dollars per barrel, which is 5 dollars lower than that of the Federal Government.
The 2019 Rivers State Budget is Christened: “Budget of Sustainable Growth and Development.”
The governor proposed N323, 288,970,085.00 as capital expenditure, while Recurrent Expenditure will gulp N157, 122,354,564.15.
He said: “The capital allocation of 323,288,970,085.00 for the 2019 fiscal year represents 65 per cent of the total budget. This sum is however less than the figure for 2018 by N57, 708,717,319.00 due to the reduction in the total size of the 2019 budget as against that of 2018.
He said because the 2019 Appropriation Bill has set priorities for human capital development and infrastructural provision, a substantial part of the capital budget is allocated to the Ministries of Agriculture; Education; Employment Generation and Empowerment; Health; Sports Development; Women Affairs; Works; and Youth Development.
The governor proposed N72, 911,765,640.21 billion naira for the construction and improvement of the State’s road network and transport infrastructure.
He said: ”This sum, which constitute about 24 per cent of the total capital budget, will be utilized to continue with the funding of the construction and completion of roads”.
The sectoral allocation of the capital budget is as follows: (Proposed) Administration Sector; N17, 820,704,443.79 ,Economic Sector: N99, 053,565,640.20 ; Law and Justice Sector; N 4,350,000,000.00; Social Sector; N127, 292,200,000.00 and ; Special Heads, N50, 347,500,000.00; Loan Repayments , N24, 425,000,000.00.
Wike said the following roads will be completed in 2019. They include: the dualization of Kira – Sakpenwa – Bori – Kono road; the Andoni – Opobo Unity road; the Oyigbo town – Ebete road; Tema – Ifoko road the Mbano camp road; Eleme – Obete road; Eteo – Sime – Bayayira-Nonwa-Kira road; Rumuji – Ibaa – obele – isiokpo road; Akabuka – Omoku road; Flyover bridge at Garisson Junction abd Abonnema ring road.
Others are: Abua-Degema – Emoh-Iyak-Ighom-Elok road; Ula Ehuda – Odioku – Anwunugboko – Ubeta – Ihuechi – Odiereke road; Rumuche road in Emouha Local Government Area; Flyover bridge at Rumuokwuta roundabout; Flyover bridge at University of Port Harcourt Junction
Ahoada – Odiemerenyi – Ihugbogo-odieke road; Isiodu roads , Ahoada – Ekpena road; Omoku-Aligwu-Kreigani-Oduoboburu road, Odieku internal roads; Bolo internal roads; Rumukpakani internal roads; and
Umuogba – Umuokpurukpu – Umueke – Umunju Umuelechi – Eberi roundabout link road.
He proposed the sum of N17,112,000,000.00 for the Bureau for Special Projects to fund the completion of land reclamation at Bakana in Degema Local Government Area, land reclamation at Abalama in Asari Toru Local Government Area; land reclamation and shore protection at Kula in Akuku Toru Local Government Area; the Secretariat buildings for Trade Union Congress, Nigeria Labour Congress, National Union of Rivers State Students and Rivers State Students Union Government; and the Fruit Garden market in Port Harcourt City Local Government Area.
The governor stated the administration
allocated the sum of N25, 300,000,000.00 to fund healthcare delivery in the State. He said key projects in the sector will be completed and delivered in 2019.
Wike said his administration will continue to give security of lives and property all the attention that it deserves in spite of the obvious lack of cooperation from the Federal Government.
He said: “ The sum of 18,000,000,000.00 has been proposed to fund all aspects of securing and keeping Rivers State safe, peaceful and secure, including the operationalization of the recently established State Neighbourhood Safety Corps programme.
”The Neighbourhood Safety Corps programme is very dear to us as a government. Apart from the number of youths that it will employ, the programme has the potential to enhance our collective security. And so we are prepared to do whatever it will take to ensure its implementation in the course of 2019″.
Wike noted that the sum of N4, 350,000,000.00 only has been proposed for the Law and Justice sector to further strengthen and enhance the justice delivery system in the State.
For the recurrent expenditure, Governor Wike proposed to spend as follows: Personnel Emolument , N79, 585,058,808.60; Overhead
N 17, 025,380,000.00; Pension N 33,000,000,000.00 and Others
N27,511,915,255.55.
Through the recurrent proposals, Governor Wike accommodated the expected new minimum wage for the state and the handling of the pension challenges facing the state.
Wike said: “ With this, the State Government will be in a position to pay the minimum wage whenever the National Assembly approves it. We also made provisions for staff promotion arrears and new recruitments into the State’s civil service.
“The sum of 33,000,000,000.00 is proposed for the settlement of pension liabilities. The challenge about the plight of pensioners has lingered for too long and we are determined to tackle it this time around. Certainly, our senior citizens deserve better treatment than what they are presently getting”.
The 2019 Rivers State Budget will be financed as follows: Internally Generated Revenue N120, 492,891,302.00 ,Statutory Allocation
N73, 169,813,022.00 : 13% oil minerals fund; N145, 070,991,780.00 ;Value Added Tax; N26, 377,628,543.00 ;Refunds ; N27, 337,926,155.08 ;Local Credits; N45, 000,000,000.00; International Credits; N30, 000,000,000.00; Capital receipts; N300, 000,000.00 Exchange gain; N8,000,000,000.00 Prior year Balance; N4,662,073,844.92: N480, 411,324,647,00
Wike said for the 2018 Budget as at November 2018, total revenue receipts from all sources (except internal and external loans) stood at 288,721,423,336, which represents about 79 per cent performance on the revenue side with respect to the totally projected IGR and FAAC receipts for 2018.
The governor said that the aggregate capital releases to MDAs as at November 2018 stood at over 65 per cent of the total capital expenditure.
He said despite inheriting a collapsed economy from the immediate past APC administration in the state, his administration has revived the state’s economy.
He said: “We came in with a clear vision and mission: a vision to repair and renew the promise of our State; a mission to pull our people from the cesspool of despair and restore our hopes for brighter future.
“Three and half years after, we have substantially achieved our commitments on all directions of human advancement.
Under our watch, Rivers State has emerged from the brink of economic disaster to an era of fiscal sustainability. Today, our Gross Domestic product has increased and our economy is growing at a rate above the national average and attracting new investments even when the national economy continues to be weak, wobbly and troubling.
“Under our guardianship, we have invested at record levels to provide critical social and economic infrastructure across the State; especially roads, schools, and health facilities.
In the process, we created hundreds of thousands of jobs across the construction value chain”.
He said the 2019 budget is intended to consolidate on the administration’s achievements and enable it to put the State on an irreversible path to sustainable economic growth and development.
Speaker of the Rivers State House of Assembly, Mr Ikuinyi-Owaji Ibani said the House will give the budget the required consideration in the interest of the state.
He noted that the House has already approved the Medium Term Expenditure Framework, which will form the basis of the budget’s consideration.
The budget passed through its first reading after the State Governor laid the budget on the table.
President Bola Tinubu yesterday signed into law four tax reform bills aimed at transforming Nigeria’s fiscal and revenue framework.
The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.
The ceremony took place at the Presidential Villa, yesterday.
The ceremony was witnessed by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President.
The presidency had earlier stated that the laws would transform tax administration in the country, increase revenue generation, improve the business environment, and give a boost to domestic and foreign investments.
“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Special Adviser to the President on Media, Bayo Onanuga said on Wednesday.
Before the signing of the four bills, President Tinubu had earlier yesterday, said the tax reform bills will reset Nigeria’s economic trajectory and simplify its complex fiscal landscape.
Announcing the development via his official X handle, yesterday, the President declared, “In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country.”
Tinubu made a call to investors and citizens alike, saying, “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”
He described the bills as not just technical adjustments but a direct intervention to ease burdens on struggling Nigerians.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet,” Tinubu wrote.
According to the President, “They will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
He added that the long-standing burden of Nigeria’s tax structure had unfairly weighed down the vulnerable while enabling inefficiency.
The tax reforms, first introduced in October 2024, were part of Tinubu’s post-subsidy-removal recovery plan, aimed at expanding revenue without stifling productivity.
However, the bills faced turbulence at the National Assembly and amongst some state governors who rejected its passing in 2024.
At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure, which governors from the North opposed.
They warned that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favour of southern states with stronger consumption bases.
After prolonged dialogue, the VAT rate remained at 7.5 per cent, and a new exemption was introduced to shield minimum wage earners from personal income tax.
By May 2025, the National Assembly passed the harmonised versions with broad support, driven in part by pressure from economic stakeholders and international observers who welcomed the clarity and efficiency the reforms promised.
In his tweet, Tinubu stressed that this is just the beginning of Nigeria’s tax evolution.
“We are laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.
“A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity,” he stated.
He further acknowledged the contributions of the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, and Nigeria’s subnational governments.
The President added, “We are not just signing tax bills but rewriting the social contract.
“We are not there yet, but we are firmly on the road.”
The Senate has issued a 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) over its failure to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over ?210 trillion in its audited reports from 2017 to 2023.
Despite being summoned, no officials or external auditors from NNPCL showed up yesterday.
However, representatives from the representatives of the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Department of State Services were present.
Angered by the NNPCL’s absence, the committee, yesterday, issued a 10-day ultimatum, demanding the company’s top executives to appear before the panel by July 10 or face constitutional sanctions.
A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.
It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.
The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for a period of two months from now to enable us to collate the requested information and documentation.
“Furthermore, members of the Board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session on Thursday, 26th June, 2025.
“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”
But lawmakers rejected the request.
The Committee Chairman, Senator Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada stated.
“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers,” he warned.
Other lawmakers echoed similar frustrations.
Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, must personally lead the delegation at the next hearing.
The Tide reports that Ojulari took over from Mele Kyari on April 2, 2025.
Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month request suggested the company had no answers, but the committee would still grant a fair hearing by reconvening on July 10.
Senator Victor Umeh (Anambra Central) warned the NNPCL against undermining the Senate, saying, “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”
Last week, the Senate panel grilled Segun and other top executives over what they described as “mind-boggling” irregularities in NNPCL’s financial statements.
The Senate flagged ?103 trillion in accrued expenses, including ?600 billion in retention fees, legal, and auditing costs—without supporting documentation.
Also questioned was another ?103 trillion listed under receivables. Just before the hearing, NNPCL submitted a revised report contradicting the previously published figures, raising more concerns.
The committee has demanded detailed answers to 11 specific queries and warned that failure to comply could trigger legislative consequences.
The National Association of Nigerian Travel Agencies (NANTA) said over 17 million Nigerians travelled out between 2023 and 2024.
This is as the association announced that it would be organising a maiden edition of Eastern Travel Market 2025 in Uyo, Akwa Ibom State capital from 27th to 30th August, 2025.
Vice Chairman of NANTA, Eastern Zone, Hope Ehiogie, disclosed this during a news briefing in Port Harcourt.
Ehiogie explained that the event aims to bring together over 1,000 travel professionals to discuss the future of the industry in the nation and give visibility to airlines, hospitality firms, hospitals and institutions in the South-South and South-East, tagged Eastern Zone.
He stated that the 17 million number marks a significant increase in overseas travel and tours.
According to him, “Nigerian travel industry has seen significant growth, with 17 million people traveling out of the country in 2023”.
Ehiogie further said the potential of tourism and travel would bring in over $12 million into the nation’s economy by 2026, saying it would be a major spike in the sector, as 2024 recorded about $4 million.
“The potential of tourism and travel is that it can generate about $12 million for the nation’s economy by 2026. Last year it was $4 million.
“In the area of travels, over 17 million Nigerians traveled out of the country two years ago for different purposes. This included, health, religious purposes, visit, education and others,” Ehiogie said.
While highlighting the potential of Nigeria’s tourism, he said the hospitality industry in Nigeria has come of age, saying it is now second to none.
The Vice Chairman of NANTA, Eastern Zone further said, “We are not creating an enabling environment for business to thrive. We need to support the industry and provide the necessary infrastructure for growth.”
He said the country has a lot of tourism potential, especially as the government is now showing interest in and supporting the sector.
Ehiogie emphasized that NANTA has been working to support the industry with initiatives such as training schools and platforms for airlines and hotels to sell their products.
He added, “We now have about four to five training schools in the region, and within two years, the first set of students will graduate. We are helping airlines sell tickets and hotels sell their rooms.”
Also speaking, former Chairman of the Board of Trustees of NANTA, Stephen Isokariari of Dial Travels, called for more support from the industry.
Isokariari stated, “We need to work together to grow the industry and contribute to the nation’s Gross Domestic Product.
“With the right support and infrastructure, the Nigerian travel industry has the potential to make a significant contribution to the nation’s economy.”