Fubara Presents N1.85tn 2026 Budget, Targets Growth and Infrastructure
Rivers State Governor, Siminalayi Fubara, on Friday presented a proposed N1.854 trillion budget for the 2026 fiscal year to the Rivers State House of Assembly.
The proposed appropriation bill, tagged “Budget of Resilience for Growth and Development,” is designed to sustain investments in infrastructure, human capital development, security, and economic expansion across the state.
Presenting the budget before lawmakers, Governor Fubara said the proposal reflects his administration’s commitment to fiscal discipline, transparency, and prudent management of public resources despite prevailing economic and political challenges.
He noted that the proposed expenditure represents a 24.49 per cent increase over the adjusted 2025 budget, adding that the state’s financial stability has been driven by responsible governance and effective revenue management.
According to the governor, the state expects to generate a total revenue of N1.854 trillion in 2026. Of the amount, N487.61 billion is projected to come from Internally Generated Revenue (IGR), while N936.05 billion is expected from Federation Account Allocation Committee (FAAC) allocations, 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 said the budget would consolidate ongoing development projects, stimulate economic growth, improve service delivery, and enhance the welfare of Rivers residents.
He urged the Rivers State House of Assembly to give the appropriation bill speedy consideration to enable its timely implementation.
The proposed budget will now undergo legislative scrutiny before it is passed into law.
