Rivers State Governor Siminalayi Fubara has presented a proposed budget of N1.854 trillion 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 Appropriation Bill before lawmakers on Friday, the governor said the budget was designed to strengthen the achievements of his administration in infrastructure, human capital development, security, and economic expansion while promoting fiscal discipline and accountability in the use of public funds.
Fubara stated that despite the challenges faced by the state, his administration had sustained effective governance and recorded significant progress across key sectors.
He attributed the state’s financial stability to prudent resource management, transparency, and responsible governance.
According to the governor, the proposed budget projects total revenue of N1.854 trillion, representing a 24.49 per cent increase compared to the 2025 adjusted budget.
He explained that the expected revenue would be generated from Internally Generated Revenue (IGR), allocations from the Federation Account Allocation Committee (FAAC), derivation funds, grants, loans, asset sales, and opening balances.
Providing a breakdown of the projections, Fubara said N487.61 billion is expected from internally generated revenue, while N936.05 billion will come from FAAC allocations, including derivation funds, Value Added Tax (VAT), and exchange gains.
He added that N382.48 billion is projected from capital receipts, grants, loans, and asset sales, while N48.11 billion will come from opening and closing balances.
