The Governor of Rivers State, Siminalayi Fubara, on Friday, presented the Rivers State 2026 Appropriation Bill of N1.854 trillion to the State House of Assembly for consideration and approval.
Governor Fubara, who presented the budget for the 2026 fiscal year to the Hon. Martin Amaewhule-led Assembly, tagged it a “Budget of Resilience for Growth and Development.”
Fubara, while addressing the lawmakers, 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.
He stated that despite various challenges, governance had remained effective in the state, with notable progress recorded in critical sectors.
Fubara attributed the state’s fiscal stability to prudent financial management, transparency, and a commitment to responsible governance.
He said the proposed budget projects a total revenue of N1.854 trillion, representing a 24.49 percent increase over the 2025 adjusted budget.
He said 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.
Governor Fubara had last week forwarded the 2026–2028 Medium-Term Expenditure Framework to the Assembly, which was approved 24 hours later, paving the way for the governor to present the 2026 budget.
This is the first time Governor Fubara presented the state budget after the emergency rule in the state in September last year.
The Governor had last presented the state budget in 2024 to the factional Assembly led by Rt. Hon. Victor Oko Jumbo, before the Supreme Court in February 2025 recognised Amaewhule-led Assembly.
During the emergency rule in the state in 2025, President Bola Tinubu had presented the Rivers State budget to the Senate for approval, following the appointment of Ibok-Ete Ibas as the administrator of the state.
Upon resumption of office after the emergency rule, Governor Fubara worked with the budget approved by the Senate, and was not prepared to present another budget until the budget circle expired in June/July 2026.
