RIVERS State Governor, Siminalayi Fubara, on Friday, July 10, presented a proposed N1.854trillion budget for this year’s fiscal year to the state House of Assembly.
While presenting the Appropriation Bill, which he described as a ‘Budget of Resilience for Growth and Development,’ Fubara said it is designed to build on his administration’s achievements in infrastructure, human capital development, security and economic expansion, and also reflects his government’s commitment to fiscal discipline, transparency and prudent management of public funds.
Acknowledging several challenges the state had faced recently, the governor said his administration had continued to deliver effective governance, recording significant progress across key sectors, due to responsible leadership, transparent governance and sound fiscal management.
The governor disclosed that the proposed appropriation projects total revenue of N1.854trillion, representing a 24.49 per cent increase, compared to the adjusted last year’s budget.
According to the revenue estimates, N487.61billion is expected from Internally Generated Revenue (IGR), while N936.05billion will come from Federation Account Allocation Committee (FAAC) receipts, including derivation funds, Value Added Tax (VAT) and exchange gains.
Additionally, the state expects to generate N382.48billion from capital receipts, grants, loans and asset sales, while N48.11billion will come from opening and closing balances.
Fubara expressed confidence that the proposed budget would strengthen economic growth, improve public service delivery and accelerate sustainable development across the state.
After receiving the Bill, Speaker of the House, Martin Amaewhule, subjected it to immediate scrutiny before addressing the governor directly on behalf of the House, saying: “Let me assure you on behalf of the members that we will give due consideration to your budget proposals.”
Amaewhule said that the Assembly was fully aware of its responsibility, noting: “Our state has to grow, and all hands have to be on deck for the growth of Rivers State.
“We are willing to do all that is needed as an assembly so our people can smile again.”
The 2026 Appropriations Bill subsequently passed its First Reading.
Following the formal proceedings, Fubara exchanged warm pleasantries with lawmakers before being accompanied out of the chambers by Amaewhule and members of the House for a group photograph.
The plenary was thereafter adjourned until July 20.
The budget presentation signals a major shift in the state’s politics, coming after the reconciliation of the governor and lawmakers, following nearly three years of parallel legislative sittings and rival budget presentations.
