Governor Siminalayi Fubara of Rivers State has formally presented a proposed N1.854 trillion budget for the 2026 fiscal year to the Rivers State House of Assembly.
The governor presented the Appropriation Bill christened the “Budget of Resilience for Growth and Development,” before lawmakers on Friday.
The presentation marks a major milestone after months of fiscal delays tied to administrative and legislative friction in the state.
In his presentation, Governor Fubara said the budget was designed to consolidate the gains of his administration in infrastructure development, human capital advancement, security and economic growth, while ensuring fiscal discipline and accountability in the management of public resources.
Fubara noted that despite various challenges, governance had remained effective in the state, with notable progress recorded in critical sectors.
He attributed the state’s fiscal stability to prudent financial management, transparency, and a commitment to responsible governance.
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.
The projected revenue is expected to come from Internally Generated Revenue (IGR), Federation Account Allocation Committee (FAAC) receipts, derivation funds, grants, loans, asset sales, and opening balances.
A breakdown of the revenue projections shows that N487.61 billion is expected from internally generated revenue, while N936.05 billion will come from FAAC allocations, including derivation funds, Value Added Tax (VAT), and exchange gains.
Capital receipts, grants, loans, and asset sales are projected at N382.48 billion, while opening and closing balances account for N48.11 billion.
