BREAKING: Fubara presents ₦1.854tn 2026 budget to Rivers Assembly

Rivers State Governor, Siminalayi Fubara, has presented a proposed ₦1.854 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 before lawmakers on Friday, Fubara said the budget is aimed at consolidating his administration’s achievements in infrastructure, human capital development, security, and economic growth while promoting fiscal discipline and accountability in public finance management.

The governor said that despite the challenges facing the state, his administration has sustained effective governance and recorded significant progress across key sectors.

According to him, the proposed budget projects ₦1.854 trillion in total revenue, representing a 24.49 per cent increase over the 2025 adjusted budget.

Fubara attributed the state’s fiscal stability to prudent financial management, transparency, and responsible governance.

He explained that the projected revenue would be sourced from internally generated revenue (IGR), allocations from the Federation Account Allocation Committee (FAAC), derivation funds, grants, loans, asset sales, and opening balances.

A breakdown of the revenue estimates shows that:

₦487.61 billion is expected from Internally Generated Revenue (IGR).

₦936.05 billion will come from FAAC allocations, including derivation funds, Value Added Tax (VAT), and exchange gains.

₦382.48 billion is projected from capital receipts, grants, loans, and asset sales.

₦48.11 billion will come from opening and closing balances.

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