Rivers State Governor Siminalayi Fubara on Friday presented a proposed N1.854 trillion budget for the 2026 fiscal year to the Rivers State House of Assembly, with capital expenditure accounting for more than three-quarters of the total spending plan.
Tagged the ‘Budget of Resilience for Growth and Development’, the appropriation bill proposes total expenditure of N1.854 trillion, comprising N413.1 billion for recurrent expenditure and N1.405 trillion for capital projects.
The presentation came two weeks after the House approved the state’s 2026–2028 Medium-Term Expenditure Framework (MTEF), which provides the fiscal framework for the next three years.
Presenting the budget, Fubara said the proposal was designed to promote inclusive economic growth, strengthen infrastructure, expand social investment and improve living standards across the state.
He said infrastructure development, the completion of ongoing road projects, the maintenance of existing roads and bridges, as well as increased investment in education and healthcare, would remain key priorities during the 2026 fiscal year.
A breakdown of the budget shows that the economic sector received the largest allocation of N625.85 billion, followed by the social sector with N435.41 billion. The administration sector was allocated N278.75 billion, while law and justice received N65.26 billion.
Among the major capital allocations, works and infrastructure received the highest allocation of N533.32 billion, followed by education with N315 billion and healthcare delivery 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 environment and sustainable development.
On recurrent expenditure, the proposal provides N154.77 billion for personnel costs, N15.22 billion for new recruitment, N55.1 billion for pensions, N20 billion each for gratuities and legacy pension gratuities, N7 billion for death benefits, N36.71 billion for overheads across ministries, departments and agencies, and N9.76 billion for grants, contributions and subsidies.
The budget also includes provisions for debt servicing, comprising N28.23 billion for interest on domestic loans, N6.5 billion for interest on foreign loans, N30.45 billion for repayment of long-term domestic loans, N15.73 billion for repayment of foreign loan principal and N3.86 billion for repayment of short-term domestic loans.
Fubara said the proposed expenditure would be financed through projected revenue of N1.854 trillion, made up of N487.61 billion in internally generated revenue, N936.05 billion from Federation Account Allocation Committee (FAAC) allocations, including derivation, value added tax and exchange gains, N48.11 billion in opening and closing balances, and N382.48 billion in capital receipts, including loans, grants and asset sales.
According to the governor, the revenue projection represents a 24.49 per cent increase over the state’s adjusted 2025 budget, driven by expected growth in FAAC allocations, derivation revenue and internally generated revenue.
He also announced a proposed 50 per cent increase in overhead allocations for ministries, departments and agencies to improve operational efficiency once the budget is approved.
Fubara said adequate provisions had been made to clear outstanding gratuities and death benefits owed to retired civil servants, which he said accumulated under previous administrations.
The governor urged lawmakers to give the appropriation bill expeditious consideration and passage, assuring them that despite the delayed presentation, his administration would ensure effective implementation in line with the principles of transparency, accountability and prudent management of public resources.
