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Governor: Rivers’ internal revenue rises by 100% in a single year

Apr 23, 2024 | Politics | 0 comments

Governor Siminalayi Fubara announced that the oil-rich Rivers State has recorded a more than 100 percent increase in Internally Generated Revenue (IGR).

Governor Fubara made this declaration on Friday during a meeting with members of the House of Representatives Committee on Public Account in Port Harcourt,” stated Boniface Onyedi, senior special assistant to Mr. Fubara.

Mr. Fubara, a former state accountant general who assumed office in May 2023, stated that his administration had raised the state’s monthly IGR from N12 billion, which he met upon assuming office, to N27 billion, representing an increase of over 100 percent.

“So, we have to think outside the box and rejig our internally generated revenue. I can tell you today that we are not borrowing for all the projects we are doing.

“We are very transparent, we are not hiding anything. That is why I can boldly say it. The least we get this period is between 26 billion and N27 billion. The highest they were doing before was between N12 Billion and N13 billion.”

Governor Fubara further informed the federal lawmakers that he inherited the challenges of civil servants’ non-promotion for 11 years, suggesting that the immediate-past governor of the state, Nyesom Wike, did not conduct promotion exercises for workers in the state throughout his eight years in office.

Mr. Fubara said that the wage bill for about 52,000 workers in the state increased from N5.3 billion to N8 billion after he assumed office and promoted civil servants in the state.

Rivers IGR before Fubara

In terms of gross domestic product (GDP), Rivers State has the largest economy in South-South Nigeria and is second nationally after Lagos State.

Before Mr. Fubara became governor in May 2023, the yearly IGR of Rivers State in 2022 was N172.8 billion, indicating an average monthly IGR of N14.4 billion, according to Nigeria’s data bank, the National Bureau of Statistics (NBS).

In 2021, Rivers State IGR stood at N123.3 billion, giving an average of N10.3 billion. In 2020, the state IGR was N117.2 billion, while that of 2019 was N169.6 billion.

However, Mr. Fubara’s disclosure that the state’s monthly IGR has jumped to N27 billion indicates that if this trend continues, the state will generate an annual IGR of N324 billion.

During the meeting, the governor informed the lawmakers that his administration was deploying resources for the people’s well-being to reduce societal ills, emphasizing that he was prioritizing education, healthcare, and agriculture.

Monumental impacts – University don

In an interview with PREMIUM TIMES on Saturday, Anthony Egobueze, a political science lecturer at the Rivers State University of Science and Technology, said the impact of the state’s improved IGR has been monumental, particularly in the promotion of public and civil servants, a development he said may have doubled the state government’s wage bill.

“You have civil servants that were stagnated without promotion for over eight years. In this case, he (Mr. Fubara) has lifted the stagnation. He has also compelled council chairmen to promote local government workers, the exercise of which is ongoing. That is great and monumental as far as I am concerned.

“He has also awarded a contract for the dualisation of Elele-Egbeda-Omoku Road, a dual carriageway and is going to impact on the economy of the people of the area because that is the core oil producing area in Rivers State,” he said.

Mr. Egobueze said that the people around Elele-Egbeda-Omoku Road would feel the impact of oil production and extraction in their zone and reduce the stress of conveying agricultural produce from the area to the city.

He said many people will be employed in the state, a development he said will eliminate poverty.

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