Lucky Obukohwo Reporting
Rivers State Governor, Siminalayi Fubara, on Friday presented a proposed N1.854 trillion budget for the 2026 fiscal year to the Rivers State House of Assembly, describing it as a “Budget of Resilience for Growth and Development.”
Presenting the 2026 Appropriation Bill before lawmakers, the governor said the spending proposal is aimed at consolidating his administration’s strides in infrastructure, human capital development, security and economic expansion, while reinforcing fiscal discipline, transparency and accountability in the management of public finances.
Fubara maintained that despite the challenges confronting his administration, governance has remained focused and effective, with notable progress recorded across key sectors of the state’s economy.
He credited the state’s fiscal resilience to prudent financial management, transparent governance and the responsible stewardship of public resources, noting that these principles have continued to underpin sustainable development and economic stability.
According to him, the proposed budget projects a total revenue of N1.854 trillion, representing a 24.49 per cent increase over the 2025 adjusted budget.
A breakdown of the revenue projections shows that N487.61 billion is expected from Internally Generated Revenue (IGR), while N936.05 billion will come from Federation Account Allocation Committee (FAAC) receipts, including derivation funds, Value Added Tax (VAT) and exchange gains.
The budget also projects N382.48 billion from capital receipts, grants, loans and asset sales, while N48.11 billion is expected from opening and closing balances.
Fubara told lawmakers, “The budget is designed to consolidate the gains of our administration in infrastructure development, human capital advancement, security and economic growth, while ensuring fiscal discipline and accountability in the management of public resources.”
He added, “Despite the various challenges we have faced, governance has remained effective in the state, with notable progress recorded in critical sectors. Our fiscal stability is a product of prudent financial management, transparency and our commitment to responsible governance.”
The 2026 Appropriation Bill has been forwarded to the Rivers State House of Assembly for legislative consideration and approval.
