Rivers State Governor, Siminalayi Fubara, on Friday presented a proposed N1.854 trillion budget for the 2026 fiscal year to the State House of Assembly, describing it as a “Budget of Resilience for Growth and Development.”
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Presenting the appropriation bill before lawmakers, the governor said the proposal was designed to consolidate his administration’s achievements in infrastructure, human capital development, security and economic expansion, while promoting fiscal discipline and transparency.
Fubara said despite the challenges faced by his administration, the state had continued to record progress across key sectors, attributing the development to prudent financial management and accountability in the use of public funds.
According to the governor, the proposed budget represents a 24.49 per cent increase over the 2025 adjusted budget and is anchored on a projected revenue of N1.854 trillion.
He explained that the expected revenue would be generated from internally generated revenue, allocations from the Federation Account Allocation Committee, derivation funds, grants, loans, asset sales and opening balances.
A breakdown of the proposal showed that N487.61 billion is expected from internally generated revenue, while N936.05 billion is projected from FAAC allocations, including derivation funds, Value Added Tax 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 said the budget was aimed at sustaining development initiatives, strengthening public service delivery and ensuring continued economic growth across the state while maintaining responsible management of public resources.
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