Governor Siminalayi Fubara on Friday presented a proposed N1.854 trillion Appropriation Bill for the 2026 fiscal year to the Rivers State House of Assembly, with major allocations to infrastructure, education, healthcare, economic growth and human capital development.
The budget, christened “Budget of Resilience for Growth and Development,” is aimed at building a more resilient, prosperous and inclusive economy while sustaining investments in critical sectors of the state’s economy.
Presenting the proposal before lawmakers, Fubara said the estimated expenditure of N1,854,248,734,475.76 represents a 24.49 per cent increase over the adjusted 2025 budget, driven by expected improvements in Federation Account Allocation Committee (FAAC) allocations, derivation revenue and internally generated revenue.
The governor said his administration had maintained fiscal stability despite political and economic challenges through prudent management of public resources.
“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 expand socio-economic opportunities for our people,” he said.
According to Fubara, the projected revenue profile comprises N487.61 billion from internally generated revenue, N936.05 billion from FAAC allocations, including derivation funds, VAT and exchange gains, N48.11 billion from opening and closing balances, and N382.48 billion from capital receipts, including domestic loans, grants and asset sales.
The governor proposed N413.11 billion for recurrent expenditure and N1.405 trillion for capital projects, underscoring his administration’s commitment to development-focused spending.
He disclosed that N154.77 billion would be spent on personnel costs, while N15.22 billion was earmarked for fresh recruitment into the public service. Other recurrent allocations include N55.10 billion for pensions, N20 billion each for gratuities and legacy pension liabilities, N7 billion for death benefits and N36.71 billion for overhead costs.
Fubara also announced a 50 per cent increase in overhead allocations to Ministries, Departments and Agencies (MDAs) to improve operational efficiency once the budget is passed.
He pledged to clear outstanding gratuities and death benefits owed retired civil servants, saying liabilities inherited from previous administrations would receive priority attention.
Under the capital expenditure plan, works and infrastructure received the highest allocation of N533.32 billion, followed by education with N315 billion and healthcare with N105.43 billion.
Other allocations include N41.44 billion for the Rivers State House of Assembly, N30 billion for the judiciary, N19.26 billion for agriculture, N15 billion for power, N8.5 billion for chieftaincy and community development, N7.98 billion for sports, N7 billion for youth development, N6.5 billion for women affairs and N6.61 billion for environmental sustainability.
Describing the proposal as a people-centred budget, Fubara said it was designed to accelerate development, stimulate economic growth and improve the living standards of Rivers residents.
He identified economic growth, human capital development, socio-economic infrastructure and social investment as the administration’s key priorities for the 2026 fiscal year.
The governor said the budget would finance new infrastructure projects, complete ongoing road construction, maintain existing roads and bridges, and significantly boost investment in education.
While acknowledging the delay in presenting the budget, Fubara assured lawmakers that implementation would be guided by transparency, accountability and prudent financial management.
He urged members of the House of Assembly to put the interest of the state above politics and give the appropriation bill speedy consideration and approval.
“The collective interests of our State and people are more important than any other consideration. As leaders, it is our collective duty to ensure every kobo is spent where it is most needed and to deliver on our mandates to the people,” the governor stated.
He thereafter formally laid the 2026 Appropriation Bill before the House for consideration and passage into law.
About Author
