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, describing it as a “Budget of Resilience for Growth and Development.”
Presenting the appropriation bill, Fubara said the spending plan is aimed at consolidating his administration’s achievements in infrastructure, human capital development, security and economic growth, while maintaining fiscal discipline and transparency.
The governor said his administration had sustained effective governance despite the challenges facing the state, attributing its fiscal stability to prudent financial management, accountability and responsible leadership.
According to him, the proposed budget projects N1.854 trillion in total revenue, representing a 24.49 per cent increase over the adjusted 2025 budget.
He explained that the expected revenue would be generated from Internally Generated Revenue (IGR), Federation Account Allocation Committee (FAAC) allocations, 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.
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.
