…as state of emergency renders financial statements unavailable
Rivers State, one of Nigeria’s key economic hubs, was notably absent from the recently released 2025 State Fiscal Performance Index, raising concerns about transparency and the fiscal health of the state government.
Produced by BudgIT, the index assesses states based on debt sustainability, revenue generation, and budget reliability.
According to BudgIT, Rivers was excluded due to the unavailability of relevant data following months of political instability in the state.
In March, President Bola Tinubu declared a state of emergency in Rivers, suspending Governor Siminalayi Fubara, his deputy, and all elected officials, and appointed Ibok-Ete Ibas, Vice Admiral (rtd), to oversee the state’s affairs.
The officials were reinstated six months later, on September 18, after the president announced the end of the emergency rule.
Read also: Ibas hands over to Fubara, declares restoration of order in Rivers
BudgIT explained: “Rivers State is excluded from this report due to the removal of elected officers under the state of emergency. The state failed to produce an audited financial statement at the time of final data compilation for this report.
“The implications are significant, as the absence of Rivers from the ranking means its usual top-five position will be taken by another state. It also affects subnational comparisons on IGR performance, given Rivers’ outsized influence on national averages.
“For instance, Rivers’ gross FAAC allocation in 2023 exceeded the combined FAAC of Zamfara, Plateau, Sokoto, and Ogun. We look forward to featuring the state in the 2026 edition following the end of the emergency period.”
Rivers State’s exclusion is conspicuous, given that it topped BudgIT’s 2024 State Fiscal Performance Report in several key indices, including limited dependence on FAAC (Index A), ability to implement capital expenditure after meeting operating and loan obligations (Index B), and prioritisation of capital spending over recurrent expenditure (Index D).
With Rivers missing, other states have climbed in the rankings. Anambra now leads the 2025 fiscal performance list, followed by Lagos, Kwara, Abia, and Edo.
At the lower end of the ranking are Plateau, Kogi, Jigawa, Benue, and Yobe States.
The report also ranked Enugu, Lagos, Abia, Anambra, Kwara, and Ogun as the states with the least dependence on federal allocations, indicating stronger fiscal viability if they were to operate independently.
Read also: Grateful Fubara credits Tinubu, Wike, NASS for return of democracy in Rivers
Conversely, Imo, Kogi, Jigawa, Benue, and Yobe ranked lowest in this category, highlighting heavy reliance on federally distributed revenues.
BudgIT urged lower-performing states to strengthen their Internally Generated Revenue (IGR) base and improve their business environment to enhance domestic resource mobilisation.
“The lower-ranking states need to work harder to grow IGR or reduce operating expenses to achieve fiscal sustainability,” the report said.
