Rivers targets development with ₦1.85tn budget
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, the governor said the proposal is designed to sustain the state’s development agenda by expanding investments in infrastructure, education, healthcare, security, agriculture and other sectors critical to economic growth. He noted that the budget also reflects his administration’s commitment to prudent financial management, accountability and efficient use of public resources. According to Fubara, the proposed budget seeks to consolidate achievements recorded over the past year despite economic and political challenges. He said governance has continued uninterrupted, with progress made in the execution of projects and the delivery of public services across the state. The governor explained that the 2026 budget projects a total revenue of ₦1.854 trillion, representing a 24.49 per cent increase over the adjusted 2025 budget. He attributed the increase to improved revenue projections, stronger fiscal planning and efforts to diversify the state’s income sources. A breakdown of the revenue estimates shows that ₦487.61 billion is expected from Internally Generated Revenue (IGR), while ₦936.05 billion is projected from Federation Account Allocation Committee (FAAC) receipts, including derivation funds, Value Added Tax (VAT) allocations and exchange gains. Capital receipts, grants, loans and proceeds from asset sales are expected to contribute ₦382.48 billion, while opening and closing balances account for ₦48.11 billion of the projected revenue.
Fubara assured lawmakers that the budget was carefully prepared to meet the needs of Rivers residents while ensuring value for money in government spending. He stressed that priority would be given to projects capable of improving living standards, creating jobs, strengthening public institutions and stimulating economic activities across the state. The governor urged members of the House of Assembly to give the proposal speedy consideration, expressing confidence that its implementation would further strengthen the state’s economy and accelerate development in the year ahead.
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