Finally, Rivers State Governor, Sir Siminalayi Fubara has presented the 2026 budget to Rivers State House of Assembly.
Presentation of the 2026 budget formed a major point of disagreement between the Governor and the State House of Assembly in the long-drawn disagreement that at some points led the assembly to attempt impeachment of the governor.
But Friday after several months of going back and forth on the matter, Fubara presented the appropriation bill of One Trillion, Eight Hundred and Fifty-four Billion, Two Hundred and Forty-eight Million, Seven Hundred and Thirty-four Thousand, Four Hundred and Seventy-five Naira, Seventy-six Kobo (N1,854,248,734,475.76) only.
The 2026 budget, titled “Budget of Resilience for Growth and Development”, is projected on an increase of 24.49 per cent over the 2025 adjusted budget projections, due to possible increases in returns from FAAC, Derivation funds, and internally generated revenue, as the national economic outlook continues to show positive growth.
It shows a total of Four Hundred and Thirteen Billion, One Hundred and Nine Million, Three Hundred and Ninety-six Thousand, Seven Hundred and Five Naira, Seventy Kobo (N413,109, 396,705.70) only is allocated to Recurrent Expenditure while the balance of One Trillion, Four Hundred and Five Billion, Two Hundred and Seventy Million, Eight Hundred and Seventeen Thousand, Eight Hundred and Sixty-Nine Naira, thirty-six kobo (N1,405,270,817,869.36) only is allocated to capital expenditure.
Governor Fubara in his presentation told the assembly that the budget was “the result of considerable public participation in a shared vision for building an economically resilient, thriving, and prosperous Rivers State”.
He observed; “As we all know, despite the challenges, the machinery of governance has continued to function in our dear State, and we have made significant progress in our priority areas of road infrastructure, human capital development, as well as in the security of lives and property.
“Most significantly, our State has remained fiscally stable, thanks to our commitment to fiscal responsibility, prudence, and accountability in managing public funds.
“We do not tolerate mismanagement at any level and have wisely utilised public funds to provide services, attract investment, create jobs, and offer socio-economic opportunities for our people”.
Further breakdown of the budget indicates that a total of 487,609,336,496.97 Internally Generated Revenue and N936,052,408,964,24 total FAAC Allocation.
“Mr Speaker, the 2026 budget is not just about allocating funds to specific socio-economic sectors. Instead, it is a people-centred budget that acts as a blueprint for progress and service delivery, outlining a vision for a better future. It will bring tangible benefits to every ward, local government area, and resident.
“As a government, we remain committed to getting the essentials right and building a state where all residents, regardless of background, receive the services they deserve.
“We will ensure every kobo is spent wisely to deliver services, attract investment, create jobs, and provide opportunities for our people to flourish”, Fubara assured.
