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 it as a financial plan aimed at driving growth, strengthening infrastructure and improving the welfare of residents.
Tagged the “Budget of Resilience for Growth and Development,” the appropriation bill projects a total revenue of ₦1.854 trillion, representing a 24.49 per cent increase over the state’s adjusted 2025 budget.
Presenting the budget before lawmakers, Governor Fubara said the proposal was designed to consolidate his administration’s achievements in infrastructure, education, healthcare, security, agriculture and economic development while promoting transparency and fiscal responsibility in public spending.
According to the governor, the expected revenue will come from several sources, including Internally Generated Revenue (IGR), Federation Account Allocation Committee (FAAC) allocations, derivation funds, grants, loans, asset sales and opening balances.
A breakdown of the revenue estimates shows that ₦487.61 billion is expected from Internally Generated Revenue, while ₦936.05 billion is projected from FAAC allocations, including derivation revenue, 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 the Assembly that despite economic and political challenges, his administration had maintained prudent financial management and ensured that governance continued without interruption.
He added that the proposed spending plan would accelerate ongoing capital projects, expand human capital development, strengthen security and create more opportunities for economic growth across the state.
The governor appealed to lawmakers to give the appropriation bill speedy consideration and approval to enable the government commence implementation and sustain development programmes planned for the 2026 fiscal year.