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 bold financial blueprint aimed at accelerating development, strengthening the economy and improving the welfare of residents across the state. (Vanguard News)
Tagged the “Budget of Resilience for Growth and Development,” the proposed appropriation is designed to consolidate the achievements of the Fubara administration in critical sectors, including infrastructure, education, healthcare, security, human capital development and economic expansion. The governor said the budget also reflects his administration’s commitment to transparency, accountability and prudent management of public resources despite the political and economic challenges facing the state. (Vanguard News)
According to Fubara, the proposed spending plan represents a 24.49 percent increase over the adjusted 2025 budget, a move he attributed to improved revenue projections and confidence in the state’s fiscal outlook. He explained that the expected revenue will be generated from multiple sources, including Internally Generated Revenue, allocations from the Federation Account Allocation Committee, derivation funds, grants, loans, asset sales and opening balances. (Vanguard News)..READ THE FULL ARTICLE HERE .
A breakdown of the proposal shows that the state expects to generate about ₦487.61 billion from Internally Generated Revenue, while ₦936.05 billion is projected to come from FAAC allocations, including derivation revenue, Value Added Tax and exchange gains. Another ₦382.48 billion is expected from capital receipts, grants, loans and asset sales, with ₦48.11 billion projected from opening and closing balances. (Vanguard News)
Governor Fubara maintained that the budget is focused on sustaining ongoing projects while initiating new programmes that will stimulate economic activities, create jobs and improve the quality of life for Rivers residents. He assured lawmakers that every naira proposed in the budget would be managed responsibly to ensure value for money and tangible development across the state.
The presentation of the 2026 Appropriation Bill marks another significant step in the state’s fiscal planning and is expected to undergo legislative scrutiny before its eventual passage. Political observers believe the budget will also serve as a major indicator of the administration’s priorities as Rivers State continues to navigate its evolving political and economic landscape.
