Rivers State Governor, Siminalayi Fubara, on Friday presented a proposed N1.854tn budget for the 2026 fiscal year to the Martins Amaewhule-led Rivers State House of Assembly.
The appropriation bill, christened Budget of Resilience for Growth and Development, seeks to strengthen investments in critical infrastructure, education, security, human capital development and economic expansion, while maintaining fiscal discipline and transparency in public finance.
Presenting the budget before the lawmakers, Fubara said the proposal represented a 24.49 per cent increase over the state’s adjusted 2025 budget.
He explained that the projected revenue would be funded through internally generated revenue, Federation Account Allocation Committee allocations, derivation proceeds, grants, loans, asset sales and opening balances.
According to the governor, the state expects to generate N487.61bn from internally generated revenue, while N936.05bn will come from FAAC allocations, including derivation funds, Value Added Tax and exchange gains.
He added that capital receipts, grants, loans and asset sales were expected to contribute N382.48bn, while opening and closing balances would account for N48.11bn.
On the expenditure framework, Fubara proposed N413.11bn for recurrent expenditure and N1.405tn for capital projects, saying the allocation underscored his administration’s commitment to infrastructure development.
The governor also disclosed that adequate provisions had been made to settle outstanding gratuities and death benefits owed to retired civil servants.
He said the budget was designed to build a secure and prosperous state through inclusive economic growth, sustainable development and improved living standards.
Fubara identified infrastructure as a major priority, noting that funds had been earmarked for the completion of ongoing road projects, construction of new roads and maintenance of public infrastructure across the state.
He also listed education among the priority sectors, saying increased funding would improve learning outcomes and strengthen human capital development.
Describing the proposal as a people-centred budget, the governor urged the lawmakers to support its passage in the interest of the state.
He said, “The collective interests of our State and people are more important than any other consideration.
“Therefore, as we present this budget today, we must recognise our shared responsibility to act deliberately to accelerate development and recover as much lost ground as possible.
“As leaders, it is our collective duty to ensure every kobo is spent where it is most needed and to deliver on our mandates to the people!”
The presentation comes months after the Supreme Court directed that Rivers State’s statutory allocations be withheld until the governor presented the state’s appropriation bill before the Amaewhule-led House of Assembly.
The apex court had also affirmed the judgment recognising the Amaewhule-led Assembly and nullified the October 5, 2024 local government election in the state.
