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, describing it as a “Budget of Resilience for Growth and Development.”
Presenting the Appropriation Bill before lawmakers on Friday, Governor Fubara said the proposed budget is designed to consolidate his administration’s achievements in infrastructure development, human capital advancement, security and economic growth while maintaining fiscal discipline and accountability in public financial management.
The governor noted that despite the various challenges experienced during the year, his administration has sustained effective governance and recorded significant progress across key sectors of the state’s economy.
He attributed Rivers State’s fiscal stability to prudent financial management, transparency and a strong commitment to responsible governance.
According to Fubara, the proposed budget projects total revenue of ₦1.854 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), Federation Account Allocation Committee (FAAC) allocations, derivation funds, grants, loans, asset sales and opening balances.
Providing a breakdown of the revenue estimates, the governor disclosed that:
- ₦487.61 billion is expected from Internally Generated Revenue (IGR).
- ₦936.05 billion is projected from FAAC allocations, including derivation funds, Value Added Tax (VAT) and exchange gains.
- ₦382.48 billion is expected from capital receipts, grants, loans and asset sales.
- ₦48.11 billion will come from opening and closing balances.
Governor Fubara said the 2026 budget is intended to sustain economic growth, improve public infrastructure, strengthen security, expand investments in human capital development and ensure efficient delivery of public services across Rivers State.
The budget will now be considered by the Rivers State House of Assembly before its passage into law.