Rivers State Governor, Siminalayi Fubara, has submitted a proposed N1.854 trillion budget for the 2026 financial year to the Rivers State House of Assembly, describing the spending plan as the “Budget of Resilience for Growth and Development.”
While presenting the Appropriation Bill before lawmakers on Friday, the governor said the proposal is aimed at sustaining his administration’s achievements in infrastructure, human capital development, security, and economic expansion, while maintaining transparency, accountability, and sound fiscal management.
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Fubara stated that his administration has continued to deliver effective governance despite existing challenges, recording significant milestones across key sectors. He credited the state’s financial stability to prudent resource management, openness in public finance, and a strong commitment to responsible leadership.
The governor explained that the proposed budget estimates total revenue of N1.854 trillion, reflecting a 24.49 percent increase compared to the revised 2025 budget. He said the projected income will be generated through Internally Generated Revenue (IGR), allocations from the Federation Account Allocation Committee (FAAC), derivation funds, grants, loans, proceeds from asset sales, and opening balances.
Providing a breakdown of the revenue estimates, Fubara said N487.61 billion is expected from internally generated revenue, while N936.05 billion will be received through FAAC allocations, including derivation funds, Value Added Tax (VAT), and exchange rate gains. Capital receipts, grants, loans, and proceeds from asset sales are projected to contribute N382.48 billion, with opening and closing balances accounting for the remaining N48.11 billion.
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