Rivers State Governor, Siminalayi Fubara, on Friday presented a proposed N1.854 trillion appropriation bill for the 2026 fiscal year to the State House of Assembly for consideration and approval.
Presenting the budget before the Assembly led by Speaker Martin Amaewhule, the governor described the proposal as the “Budget of Resilience for Growth and Development.”
Fubara said the budget was designed to consolidate his administration’s achievements in infrastructure, human capital development, security and economic growth, while maintaining fiscal discipline and accountability in the management of public resources.
He noted that despite the challenges experienced by the state, his administration had sustained effective governance and recorded measurable progress across key sectors.
According to the governor, prudent financial management, transparency and responsible governance had helped maintain the state’s fiscal stability.
He disclosed that the proposed budget projects total revenue of N1.854 trillion, representing a 24.49 per cent increase over the 2025 adjusted budget.
The governor explained that the expected revenue would be generated 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 proposal 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 proceeds from asset sales are projected at N382.48 billion, while opening and closing balances are estimated at N48.11 billion.
The budget presentation follows the Assembly’s approval of the 2026–2028 Medium-Term Expenditure Framework (MTEF) last week, clearing the way for the submission of the 2026 appropriation bill.
Friday’s presentation marks Governor Fubara’s first appearance before the Martin Amaewhule-led Assembly since the Supreme Court recognised it as the legitimate legislative body in February 2025.
It is also his first budget presentation following the end of the emergency rule in Rivers State, during which President Bola Tinubu submitted the state’s budget to the Senate for approval after appointing Ibok-Ete Ibas as sole administrator.
Before the political crisis, Fubara had presented the 2024 budget to the factional Assembly led by Victor Oko Jumbo. After returning to office following the emergency rule, the governor implemented the budget approved by the Senate and did not present a fresh appropriation bill until the commencement of the new budget cycle.
