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Rivers State Governor, Siminalayi Fubara, on Friday presented a proposed ₦1.854 trillion budget for the 2026 fiscal year to the Rivers State House of Assembly, describing the spending plan as a “Budget of Resilience for Growth and Development.”
Presenting the 2026 Appropriation Bill before lawmakers, Fubara said the budget was designed to consolidate his administration’s achievements in infrastructure development, human capital advancement, security and economic growth, while ensuring fiscal discipline and accountability in the management of public resources.
The governor said that despite the challenges confronting his administration, governance had remained effective, with significant progress recorded across critical sectors.
He attributed the state’s fiscal stability to prudent financial management, transparency and responsible governance.
According to him, the proposed budget projects a total revenue of ₦1.854 trillion, representing a 24.49 per cent increase over the 2025 adjusted budget.
A breakdown of the revenue projections shows that ₦487.61 billion is expected from Internally Generated Revenue (IGR), while ₦936.05 billion will come from Federation Account Allocation Committee (FAAC) receipts, including derivation funds, Value Added Tax (VAT) and exchange gains.
The budget also projects ₦382.48 billion from capital receipts, grants, loans and asset sales, while ₦48.11 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.
