Rivers
PHCCIMA Breaks Down Rivers 2025 Budget
The Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA) has given its breakdown of the Rivers’ 2025 budget.
The PHCCIMA President, Dr. Chinyere Nwaoga, gave the breakdown in a statement on Tuesday, saying the budget will unlock trapped N500 billion tax revenue from trapped or recovered assets.
She recalled that PHCCIMA had on December 31, 2024 lauded the appropriation bill of 2025 as presented by the State Governor, Siminalayi Fubara, and promised to analyse the budget.
“We promised to analyse the budget and share our position after extensive research and analysis.
“We set up a think-tank committee to review the monetary policy with the private sector practitioners and we have come up with a position”, she said.
Nwaoga noted that the 2025 total budget approximates N1.2 trillion to be N388 billion higher than the 2024 figure of N800 billion.
However, she noted that when adjusted for inflation, “the Net Present Value of the current budget is approximately N1.1 trillion”.
She explained that the naira’s depreciation by 90 per cent year-on-year from January 2024 has reduced the budget’s net value to about N700 billion.
According to her, this further illustrates how the fiscal policies at the centre can impact even the best run states.
She commended the Rivers government’s plan to spend N678 billion on capital expenditure, which is roughly 30 per cent more than the operating expenditure.
“The plan to allocate N31 billion to Agric and support programmes for youths posits a strategy for genuine empowerment”, she stated.
The PHCCIMA President also advised the government to create a credible youth and women database for articulated disbursements and monitoring.
She said: “There may be need to update or recreate a strategic state wide enumeration targeted at Rivers State population”.
Nwaoga also suggested that the government should consider allotting a percentage of accrued funds to an investor guarantee programme to attract investment funds aimed at commerce.
She noted that “the policy to explore counterparty funding with the Universal Basic Education (UBE) to support education is smart”.
The PHCCIMA boss commended the government’s plan to source and save funds for the budget through various means, including FAAC, IGR, statutory allocation, mineral funds, VAT, refunds, and others.
According to her, the budget demonstrates financial prudence and less emphasis on bank borrowing.
She suggested that the government should re-enact the Rivers State Statutory Savings Account and ensure that assets do not deplete in value.
Nwaoga recommended that “we estimate an additional N100 billion, and the expansion of the under-declared and undeclared revenue sources with corporates”.
She stressed the need for the government to emphasise attracting new investments and unlocking value from existing assets.
“Rivers State Government should emphasise attracting new investments and unlocking value from existing assets”, she said.
She, however, urged that the government should continue to pursue clearing the backlog of pension liabilities and consider implementing a revised salary structure to motivate the workforce.
Rivers
Rivers High Court Restrain Trustees, Knights of St. John International, Others From Conducting Election
The High Court sitting in Port Harcourt, Rivers State, has restrained the registered trustees of Knights of St John International, Supreme Subordinate Commandery, Nigeria, and four others from conducting elections into Our Lady of Holy Rosary Local Commandery No 920 CIWA, Port Harcourt, District 48 Commandery elections, and Supreme Subordinate elections of the Knights of St John International, Nigeria, pending the determination of the substantive matters before them.
Justice G.C. Aguma and Justice V.C. Ugoji, in their separate interim orders of injunction issued in Suit No: PHC/4410/CS/2025 and Suit No: PHC/4359/CS/2025, respectively, restrained the defendants, whether by themselves, their privies, agents, servants, or any person or group of persons working under them, from conducting elections into Our Lady of Holy Rosary Local Commandery No 920, CIWA Port Harcourt, District 48 Commandery, Port Harcourt Commandery, and Supreme Subordinate of Knights of St John International, Nigeria.
The claimants, Sir Njoku Chukwuemeka Andrew and Sir Chukwuemeka Martin Mba, in separate suits, through their legal representatives, dragged the defendants to court, seeking an order to restrain them from appointing or installing any interim caretaker executive or leadership to run or pilot the affairs of St John International, Our Lady of Holy Rosary Local Commandery No 920, CIWA, Port Harcourt.
The defendants in the matter are: Registered Trustees of Knights of St John International, Supreme Subordinate Commandery, Nigeria; Brig. Gen. Emmanuel Ufuoma Okene, the Grand President, Port Harcourt Grand Commandery, Knights of St John International; Noble Brother Viktor Benebo, the Chairman Investigation Committee set up by the 2nd Defendant to investigate the claimants; Sir Architect Prempeh Ebiware, the District 48 Commander, Knights of St John International, Port Harcourt; and Sir Harry Oruma, member of Knights of St John International, Our Lady of Holy Commandery No 920, CIWA, Port Harcourt.
The two judges, after listening to the counsels in the matter, granted the claimants’ request and adjourned the matter to 10/12/2025 and 16/12/2025, respectively, for hearing of the motion on notice.
Rivers
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Rivers
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