Just In: Fubara Unveils N1.85 Trillion Budget Proposal for 2026

Rivers State Governor Siminalayi Fubara has submitted a proposed budget of N1.854 trillion for the 2026 fiscal year to the Rivers State House of Assembly, characterizing it as a “Budget of Resilience for Growth and Development.”

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On Friday, Governor Fubara presented the Appropriation Bill to lawmakers, explaining that the budget aims to build upon the achievements of his administration in areas such as infrastructure development, human capital advancement, security, and economic growth, while maintaining fiscal discipline and accountability in public resource management.

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According to Governor Fubara, the state has continued to experience effective governance despite various challenges, with significant progress observed in key sectors, a feat he attributes to prudent financial management, transparency, and responsible governance.

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The proposed budget forecasts a total revenue of N1.854 trillion, marking a 24.49 per cent increase over the 2025 adjusted budget, with revenue sources including Internally Generated Revenue, Federation Account Allocation Committee receipts, derivation funds, grants, loans, asset sales, and opening balances.

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A detailed breakdown of the revenue projections reveals that N487.61 billion is anticipated from internally generated revenue, while N936.05 billion is expected to come from FAAC allocations, including derivation funds, Value Added Tax, and exchange gains.

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Additionally, capital receipts, grants, loans, and asset sales are projected to yield N382.48 billion, with opening and closing balances accounting for N48.11 billion.