Fubara Confirms Ibas Left Over N600 Billion in Rivers State Treasury

Rivers State Governor, Siminalayi Fubara, has officially confirmed that he discovered more than N600 billion in the state treasury following his return from a six-month suspension. This substantial sum validates earlier statements made by the Speaker of the Rivers State House of Assembly, Martin Amaewhule, who had previously disclosed that the former Sole Administrator, retired Vice Admiral Ibok-Ette Ibas, left an excess of N600 billion in the state coffers at the conclusion of the emergency rule.

Governor Fubara made this revelation on Wednesday during the commissioning of the 14.2-kilometre Obodhi–Ozochi road and bridge project in Ahoada East, a key infrastructure initiative aimed at boosting transportation and trade within the region. This development marks a significant milestone in the state’s ongoing commitment to infrastructure development and economic growth.

The confirmation of these funds highlights the financial prudence exercised during the tenure of Vice Admiral Ibas and underscores the strong fiscal management framework that has enabled Rivers State to maintain substantial reserves even amidst challenging circumstances. Observers note that the availability of these funds provides the state government with the opportunity to expand critical projects in healthcare, education, and road construction, further enhancing the quality of life for residents.

Governor Fubara expressed his appreciation to the previous administration for leaving the state treasury in a robust financial position, emphasizing the importance of continuity in governance and fiscal responsibility. “The discovery of over N600 billion in the state treasury reflects the transparency and accountability of the previous administration, and it gives us a strong foundation to implement our developmental agenda,” he remarked.

The Obodhi–Ozochi road and bridge project, which spans 14.2 kilometres, is expected to improve connectivity, facilitate trade, and reduce travel time for residents in Ahoada East and surrounding areas. This project aligns with the state government’s broader infrastructure and economic revitalization strategy, aimed at creating jobs, improving transport networks, and attracting investment to Rivers State.

With these substantial financial resources now confirmed, Governor Fubara is set to leverage the funds to ensure the successful execution of strategic projects that promote sustainable growth and development across Rivers State. The government is committed to maintaining transparency in fund utilization, ensuring that citizens benefit from prudent financial management and targeted developmental projects.

For more updates on government projects and financial management in Rivers State, visit LMSINT Media.