Rivers State Governor, Siminalayi Fubara, has presented a proposed ₦1.854 trillion budget for the 2026 fiscal year to the Rivers State House of Assembly.
The budget, titled the “Budget of Resilience for Growth and Development,” was presented before lawmakers on Friday.
Fubara said the spending plan was designed to deepen his administration’s work in infrastructure, human capital development, security and economic growth.
He also said the budget would be implemented with a strong focus on fiscal discipline, transparency and accountability in the management of public resources.
Budget rises by 24.49%
According to the governor, the proposed 2026 budget represents a 24.49 percent increase over the 2025 adjusted budget.
He said the projected revenue would come from several sources, including Internally Generated Revenue, Federation Account Allocation Committee receipts, derivation funds, grants, loans, asset sales and opening balances.
Fubara said his administration had maintained effective governance despite challenges, adding that Rivers State had continued to record progress in key sectors.
He attributed the state’s fiscal stability to prudent financial management and responsible governance.
Revenue projections
A breakdown of the proposed revenue shows that Rivers State expects ₦487.61 billion from Internally Generated Revenue.
The state also projects ₦936.05 billion from FAAC allocations, including derivation funds, Value Added Tax and exchange gains.
Capital receipts, grants, loans and asset sales are expected to bring in ₦382.48 billion, while opening and closing balances are projected at ₦48.11 billion.
Focus on growth and stability
Fubara said the 2026 budget would support ongoing development efforts across the state and help strengthen economic resilience.
He said the government would continue to prioritise infrastructure delivery, security, public sector accountability and programmes that improve the welfare of residents.
The governor added that the budget was not only about spending but also about building a stronger foundation for long-term growth and development in Rivers State.
With the presentation now before the House of Assembly, lawmakers are expected to review the appropriation bill before possible passage into law.
