ENUGU, Nigeria (VOICE OF NAIJA)- 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, describing the spending plan as a roadmap for sustaining economic growth, infrastructure expansion and improved service delivery.
Tagged the “Budget of Resilience for Growth and Development,” the proposal is aimed at consolidating the administration’s achievements in critical sectors while strengthening fiscal responsibility and transparency in public finance management.
Presenting the estimates before lawmakers, the governor said the budget reflects his administration’s determination to maintain development despite prevailing economic challenges, adding that prudent financial management has continued to keep the state on a stable fiscal path.
According to Fubara, the proposed expenditure represents a 24.49 per cent increase over the adjusted 2025 budget and is built on realistic revenue projections from both federal allocations and internally generated sources.
The governor explained that the state expects to generate N487.61 billion through internally generated revenue, while N936.05 billion is projected from the Federation Account Allocation Committee (FAAC), including derivation revenue, Value Added Tax (VAT) and exchange gains.
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He added that N382.48 billion is expected from capital receipts, grants, loans and asset sales, while N48.11 billion will come from opening and closing balances to support budget implementation.
Fubara said the proposed budget prioritises continued investment in infrastructure, human capital development, security, healthcare, education and economic expansion, stressing that his administration remains committed to ensuring efficient utilisation of public resources.
He maintained that despite challenges encountered over the past year, governance in Rivers State has remained stable, with significant progress recorded across key sectors through prudent management of government finances and adherence to accountability principles.
The governor urged members of the House of Assembly to give the appropriation bill speedy consideration, expressing confidence that its implementation would accelerate development, improve public services and strengthen the state’s economic resilience.