By Ighomuaye Lucky. O
Rivers State Governor, Siminalayi Fubara, has presented a proposed N1.854 trillion budget for the 2026 fiscal year before the Rivers State House of Assembly, describing it as a “Budget of Resilience for Growth and Development.”
While presenting the 2026 Appropriation Bill, the governor said the proposed budget is designed to consolidate his administration’s achievements in infrastructure, human capital development, security and economic growth.
He added that it would strengthen fiscal discipline, transparency and accountability in the management of the state’s resources.
Fubara stated that despite the challenges facing his administration, governance in the state has remained focused and effective, with significant progress recorded across critical sectors of the economy.
He attributed Rivers State’s financial stability to prudent management of public funds, transparent governance and responsible leadership, noting that these principles remain central to achieving sustainable development and long-term economic growth.
According to him, the proposed budget projects a total revenue of N1.854 trillion, representing a 24.49 per cent increase over the 2025 adjusted budget.
A breakdown of the revenue projections shows that N487.61 billion is expected from Internally Generated Revenue (IGR), while N936.05 billion will come from Federation Account Allocation Committee (FAAC) receipts, 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.
Fubara told lawmakers, “The budget is designed to consolidate the gains of our administration in infrastructure development, human capital advancement, security and economic growth, while ensuring fiscal discipline and accountability in the management of public resources.”
He added, “Despite the various challenges we have faced, governance has remained effective in the state, with notable progress recorded in critical sectors. Our fiscal stability is a product of prudent financial management, transparency and our commitment to responsible governance.”
The 2026 Appropriation Bill has been submitted to the Rivers State House of Assembly for review, deliberation and subsequent approval.
Culled from Sun
