He made the disclosure while presenting the revised estimates before the Senate Ad Hoc Committee on Emergency Rule in Abuja.
Ibas explained that the new figure reflects an adjustment based on actual revenue performance and previously undisclosed expenditures.
He revealed that the state generated ₦1.04 trillion in revenue in 2024, far above the initial projection of ₦800.39 billion, marking a 31.6 percent increase.
“It is my well-considered opinion that the expenditures were clearly understated,” he said.
