Rivers State Governor Siminalayi Fubara has presented a proposed N1.854 trillion budget for the 2026 fiscal year to the Rivers State House of Assembly, outlining plans to accelerate development and strengthen the state’s economy.
Tagged the “Budget of Resilience for Growth and Development,” the appropriation bill was presented on Friday. Governor Fubara said the proposal is aimed at sustaining progress in infrastructure, human capital development, security, and economic expansion while promoting fiscal discipline and accountability in the management of public funds.
The governor stated that despite the challenges faced by his administration, the state has maintained steady governance and recorded significant achievements across key sectors. He credited the state’s financial stability to prudent fiscal management, transparency, and responsible leadership.
According to Fubara, the proposed budget projects a total revenue of N1.854 trillion, representing a 24.49 per cent increase over the adjusted 2025 budget.
He explained that the projected revenue will be generated from multiple sources, including Internally Generated Revenue (IGR), allocations from the Federation Account Allocation Committee (FAAC), derivation funds, grants, loans, proceeds from asset sales, and opening balances.
A breakdown of the revenue estimates shows that 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.
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.
Governor Fubara expressed confidence that the proposed budget would strengthen ongoing development efforts and support sustainable economic growth across Rivers State in 2026.
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