Rivers State Governor Presents 2026 Budget for Growth

PORT HARCOURT, Nigeria — Rivers State Governor, Siminalayi Fubara, on Friday, July 10, 2026, presented a proposed 2026 budget of N1.854tn to the Rivers State House of Assembly, describing it as a fiscal plan anchored on resilience, growth and development.

Presenting the Appropriation Bill, titled “Budget of Resilience for Growth and Development,” Fubara said the document was shaped by public participation and designed to strengthen the state’s economy while supporting infrastructure, human capital development and social investment.

“It is my pleasure to present the 2026 Rivers State Appropriation Bill to the Honourable members of the Rivers State House of Assembly for your consideration and passage into law,” the governor said.

He said the machinery of governance had continued to function “despite the challenges”, adding that the state had recorded “significant progress” in road infrastructure, human capital development and security.

“Most significantly, our State has remained fiscally stable, thanks to our commitment to fiscal responsibility, prudence, and accountability in managing public funds,” he said.

Fubara also said his administration did not tolerate waste or financial misconduct. “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,” he said.

According to the governor, the total projected revenue for the 2026 fiscal year stands at N1,854,248,734,475.76, representing a 24.49 per cent increase over the 2025 adjusted budget projections.

He said the increase would be driven by expected growth in FAAC allocations, derivation funds and internally generated revenue, as well as a positive national economic outlook.

The governor said the projected revenue would be funded through internally generated revenue of N487.61bn, FAAC allocation, including derivation, VAT and exchange gains, of N936.05bn, opening and closing balances of N48.11bn, and capital receipts, including domestic loans, grants and asset sales, of N382.48bn.

On recurrent expenditure, Fubara said N413.11bn had been set aside, with the largest share going to personnel costs, pensions, overheads, gratuities, debt servicing and repayment obligations.

He said the administration had proposed “at least a 50 per cent increase in overhead expenditure” to enable ministries, departments and agencies to cover operational costs once the budget is signed into law.

“We have also made sufficient arrangements to clear the backlog of gratuities and death benefits owed to retired civil servants, which had accumulated under previous administrations,” he said.

For capital expenditure, the governor proposed N1.405tn, which he said would be directed towards administration, the economy, law and justice, and the social sector.

He said the capital budget had risen from N713.78bn in 2025 to N1.405tn in 2026, describing it as a 22.49 per cent increase in infrastructure services expenditure.

Among the major capital allocations listed were N533.32bn for works and infrastructure, N315bn for educational development, N105.43bn for healthcare delivery, N41.44bn for the Rivers State House of Assembly, N30bn for the judiciary and N19.26bn for agriculture.

Other allocations include N15bn for power, N8.50bn for chieftaincy and community development, N7.98bn for sports, N7bn for youths, N6.50bn for women affairs and N6.61bn for environment and sustainable development.

Fubara said the 2026 budget was intended to secure the state’s long-term future through inclusive economic growth and improved living standards.

“Hon. Speaker, in addition to aligning with our fiscal realities, the 2026 budget prioritises the core objectives of building a secure, prosperous, and resilient State characterised by inclusive economic growth, sustainable development, and improved standards of living for all,” he said.

He said the administration’s priorities for the year would centre on economic growth, human capital development, socio-economic infrastructure and social investments.

“The capital budget has been designed to reflect the needs and aspirations of our people,” Fubara said, adding that the plan would “deliver for all residents of Rivers State.”

He stressed that infrastructure remained central to the administration’s agenda, with emphasis on new investments, ongoing road projects and the maintenance of existing roads and bridges.

“We have also allocated an exceptionally large budget to education, aiming to reshape the future of our State’s education systems to achieve better outcomes,” he said.

Describing the proposal as people-centred, the governor said it was intended to deliver tangible benefits across every ward and local government area in the state.

“This 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,” he said.

Fubara added that his administration would continue to spend public funds judiciously. “We will ensure every kobo is spent wisely to deliver services, attract investment, create jobs, and provide opportunities for our people to flourish,” he said.

He urged lawmakers to support the proposal regardless of political differences. “The collective interests of our State and people are more important than any other consideration,” he said.

“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,” he added.

The governor also called for unity in governance. “Let us therefore join hands, united in purpose, to ensure Rivers State continues to stand out as a bastion of good governance and accountability,” he said.

While acknowledging delays in preparing the budget, Fubara said his administration was committed to prompt implementation once the bill is passed.

“In conclusion, although we acknowledge the delay in preparing the budget, we assure a strong implementation, consistent with our commitment to accountability, transparency, and responsible management of public resources,” he said.

He then formally presented the document to the House. “I urge all honourable members, regardless of political affiliation, to support and approve this budget. I hereby table the Rivers State Budget for the 2026 financial year for consideration and enactment into law,” he said.