News
Rivers 2025 budget: Ibas attribute plans for Fubara’s return
The Sole Administrator of Rivers State, retired Vice Admiral Ibok-Ete Ibas, has revealed that the proposed N1.48tn 2025 budget anticipates the return of suspended Governor Siminalayi Fubara and other affected political officeholders.
Ibas made this known in Abuja on Wednesday while defending the budget before the House of Representatives Ad-Hoc Committee on Rivers State Oversight.
According to him, the proposed budget aligns with the strategic objectives of the River State Development Plan 2017-2027.
He also noted that the proposal presents a strategic and integrated framework designed to raise revenues and accelerate infrastructure development, enhance human capital, and promote inclusive economic growth across all sectors.
He said, “In anticipation of the eventual return to constitutional order, the draft budget prudently retains provisions for the offices and functions of suspended political actors, some of whom have already drawn on allocated resources in the first quarter and are expected to resume their duties at the expiration of the emergency period.
”He, however, accused some suspected Rivers State officials of failure to provide the administration with useful information required to prepare the budget proposal.
Ibas added, “Regrettably, some state officials withheld critical information required to ensure a more complete capture of those expenditures at the time of submission of the budget estimates.
“However, recognising the exigencies under the state of emergency and the need to ensure fiscal credibility, the budget framework integrates expenditure information made available before the submission of the budget proposal to ratify the first quarter expenditures in a lawful and transparent structure.
“This ensures alignment with statutory appropriation protocols while safeguarding the integrity of public finance management.
”The budget, totalling ₦1.48tn in expenditure with a projected ₦1.4tn in revenue, was transmitted to the National Assembly following presidential approval after the Supreme Court ruled on the legality of the Rivers State 2025 appropriation process.
In his opening remarks, Ibas thanked the committee for its dedication.
“We in Rivers State are most grateful for your commitment. Despite your tight schedules, you have shown unwavering resolve to fulfil your constitutional duties,” he said.
Ibas highlighted several major allocations including ₦324.50bn for infrastructure and transportation projects; ₦55bn to relocate and expand Rivers State University Teaching Hospital; ₦50bn for zonal hospital upgrades; ₦38.85bn for shoreline protection and erosion control; ₦30bn for zonal secondary schools and ₦5.75bn for primary school rehabilitation.
Others are ₦2.5bn for women’s economic empowerment and ₦3bn for youth resource centres; ₦20bn to recapitalise Rivers State Microfinance Bank for Medium and Small Scale Enterprises support, and ₦117bn in pension, gratuities, and employee benefits.
Responding, the Chairman of the House of Representatives Committee on Rivers State oversight, Prof Julius Ihonvbere, commended Ibas for the detailed presentation and affirmed the committee’s readiness to partner with the administrator in restoring peace and development to Rivers State.
He also pledged the committee’s readiness to scrutinise the budget estimate in the interest of the oil-rich state and its people.
Ihonvbere said, “I want to especially thank you and let you know that this committee is committed to working with you to restore stability, peace, growth, and development in Rivers State.
“Rivers has always been a shining example of what is possible with good leadership, and that is why this commitment is here.
“We will scrutinise the budget. We will invite you to send your relevant officials for a proper defence of the budget. In as much as we are committed to joining hands with you to get Rivers State back on track, we are not going to cut corners.
”Ihonvbere, who doubles as the House Majority Leader, also highlighted key social welfare components in the budget, such as women’s empowerment and pensions for retirees, describing them as necessary and people-centred interventions.
“These are areas that touch people’s lives, and we know the plight of their families. We appreciate you for making these bold commitments,” he added.
News
16-Year-Old Osasere Okundaye Becomes Nigeria’s Youngest Chartered Accountant
In a remarkable feat that has captured national attention, 16-year-old student Osasere Okundaye has emerged as Nigeria’s youngest chartered accountant, shattering the previous record set in 2022.
Okundaye successfully completed the professional examinations of the Institute of Chartered Accountants of Nigeria (ICAN), earning widespread acclaim as a shining example of youthful excellence and determination. Her achievement comes at an age when many peers are still navigating secondary education or early university studies.
Minister of Youth Development Ayodele Olawande congratulated the young prodigy, describing her accomplishment as an inspiring milestone. “I heartily congratulate Miss Osasere Okundaye on her outstanding achievement of becoming Nigeria’s youngest Chartered Accountant at just 16 years of age,” the minister said, highlighting her hard work and resilience as a symbol of the potential within Nigerian youth.
Okundaye’s success surpasses the record previously held by Jonathan Adewale (also known as Ojo Jonathan Adewale), who qualified as a chartered accountant at age 17 in 2022. Her qualification has sparked pride across the country and renewed focus on empowering young Nigerians in professional fields.
While full ICAN membership typically requires additional practical experience (usually three years), Okundaye’s completion of the rigorous exams marks a historic breakthrough. Details about her educational background and the journey to this achievement are still emerging, but her story is already motivating aspiring accountants and students nationwide.
This milestone underscores the growing narrative of exceptional young talent driving Nigeria forward in various sectors. Congratulations poured in from across social media and media outlets, celebrating Okundaye as a beacon of hope for the nation’s future.
News
JUST IN: Vigilante Groups Rescue Kidnapped NECO Students in Borno State
Local vigilante groups have successfully rescued several students of the National Examinations Council (NECO) who were abducted in Borno State, security sources confirmed on Monday.
The students were reportedly kidnapped while traveling or residing in the area for examination purposes. Details of the exact number rescued and the circumstances of the abduction remain limited, but eyewitness accounts indicate that vigilante fighters acting on intelligence engaged the kidnappers, leading to the release of the captives without major casualties reported among the students.
A community leader in the affected area praised the swift response of the vigilantes, stating that their deep knowledge of the local terrain played a crucial role in tracking the abductors. “These boys and girls were on their way to pursue their education. We thank God and our local defenders for bringing them back safely,” he said.
Borno State has faced persistent security challenges, including banditry and insurgent activities that have occasionally targeted schools and students. The rescue operation highlights the growing reliance on community-based security networks in complementing efforts by the Nigerian military and police in the region.
Authorities are yet to issue an official statement on the incident, but sources say efforts are ongoing to reunite the rescued students with their families and provide necessary medical and psychological support. Investigations into the kidnapping are also underway to apprehend those responsible.
This latest incident comes amid broader concerns over the safety of students in northern Nigeria during examination periods.
News
EFCC Charges Former Port Harcourt, Warri Refinery MDs with Money Laundering
Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has filed separate money laundering charges against the immediate past Managing Directors of the Port Harcourt Refining Company (PHRC) and the Warri Refining and Petrochemical Company (WRPC).
The accused are Ahmed Adamu Dikko, former MD of the Port Harcourt Refinery, and Jimoh Olasunkanmi Yisawu, former MD of the Warri Refinery. The charges stem from the alleged diversion and laundering of funds earmarked for the rehabilitation of Nigeria’s state-owned refineries.
According to court documents and investigations by PREMIUM TIMES, the EFCC accused the former officials of abusing their positions by receiving and laundering large sums of money through third parties in connection with controversial turnaround maintenance contracts.
The probe forms part of a broader investigation into alleged fraud involving billions of dollars linked to the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries. EFCC sources have indicated that the total amount under scrutiny runs into billions, with earlier recoveries reported at ₦38.66 billion alongside other properties.
The charges include multiple counts of money laundering, with Dikko and Yisawu allegedly involved in diverting public funds meant for critical refinery upgrades. This comes amid ongoing scrutiny of officials from the Nigerian National Petroleum Company Limited (NNPCL) and contractors involved in the projects.
The development is the latest in a series of actions by the EFCC targeting alleged corruption in Nigeria’s oil sector, where massive investments in refinery rehabilitation have yielded limited operational improvements despite significant expenditures.
As of the time of filing, court proceedings for the arraignment of the former MDs were underway. The EFCC has not yet issued an official statement on the matter.
-
Crime3 days agoBREAKING: JTF Rescues Five Kidnap Victims Along Benin-Ore Expressway
-
News3 days agoLagos Urges Students to Lead Fight Against Sickle Cell Disorder
-
Business15 hours agoNaira Exchange Rates Monday, 29 June 2026
-
News2 days agoNDLEA, Army, NAFDAC, Agunechemba, Others Rally Against Drug Abuse in Anambra
-
News3 days agoDSS Releases, Compensates Man Wrongfully Held Over Boko Haram Links
-
Health14 hours agoWHO Confirms 1,300 deaths in Europe heatwaves
-
Crime3 days agoNDLEA Seizes 10,000kg Drugs, Convicts 173 in Niger
-
News2 days agoSanwo-Olu Addresses PSP Operator’s Challenges , Announces Measures to Boost Waste Management (Photos)
