Data from the National Bureau of Statistics reveals that Rivers State, under Vice Admiral Ibas Ete, received an astonishing ₦254.36 billion in federal allocations between March and August 2025.
Here’s the breakdown of federal allocations by month:
- March: ₦44.66 billion
- April: ₦44.42 billion
- May: ₦42.80 billion
- June: ₦42.30 billion
- July: ₦38.42 billion
- August: ₦41.76 billion
During the same period, the state generated an estimated Internal Generated Revenue (IGR) of ₦27 billion per month, totaling ₦162 billion over six months.
When we combine both figures, the total revenue for Rivers State in just six months amounts to a staggering ₦416.36 billion.
Despite this substantial income, evidence suggests that contracts were awarded, arbitrary withdrawals were made from the state treasury, and funds were disbursed by Ibas—all in secrecy and without public oversight. Remarkably, there have been no visible projects seen by the people of Rivers State during this time.
It is particularly troubling that some civil servants contributed to this misappropriation of state funds. This may explain why they shamelessly awarded Ibas the title of “Most Friendly to Civil Servants,” despite his owing them salaries. Such moral bankruptcy is concerning.
Most alarming, however, was the purchase and distribution of brand-new 2025 Land Cruiser jeeps to each member of the Rivers State House of Assembly. This purchase was not included in the budget submitted by Ibas to the National Assembly.
This situation highlights the ease with which funds were accessed by the corrupt sole administrator and the moral decline exhibited by suspended assembly members who accepted such grand gifts under emergency rule.
Each Land Cruiser Prado jeep, valued at a minimum of ₦150 million, totals over ₦4 billion when multiplied by the 27 assembly members. Ibas effectively bought their silence.
He skillfully manipulated them, ensuring they remained quiet. It’s no surprise that he dismissed their calls for a probe as a “fool’s errand,” believing they have been adequately compensated and thus lack the moral authority to question him.
