By Paul Williams
Rivers State Governor, Sir Siminalayi Fubara on Friday presented a N1.85 trillion budget to the Rivers State House of Assembly for the 2026 fiscal year, with capital spending accounting for more than 75% of total outlays.
The presentation — less than three weeks after Fubara submitted the 2026–2028 Medium Term Expenditure Framework and more than eight months after the House and governor returned from a State of Emergency–induced suspension — comes after repeated calls by the Martin Amaewhule–led Assembly for the 2026 Appropriation Bill.
Analysts say the long-awaited presentation may signal a thaw in the political rift between the governor and Chief Nyesom Wike, Minister of the Federal Capital Territory, which previously plunged the state into crisis.
Budget figures
Fubara placed total projected revenue for 2026 at N1.854 trillion and total expenditure at N1.85 trillion, describing the document as the “Budget of Resilience for Growth and Development,” developed after wide public consultations.
He said the proposed operating revenue for 2026 represents a 24.49% increase over the 2025 adjusted budget, driven by expected higher returns from FAAC, derivation funds and internally generated revenue amid an improving national economic outlook.
Revenue mix
Projected revenue sources are: Internally Generated Revenue (IGR) N487.6 billion; total FAAC allocation, including derivation, VAT and exchange gain N936.0 billion; opening and closing balances N48.1 billion; and capital receipts (domestic loans, grants and asset sales) N382.5 billion, bringing total projected revenue to N1.854 trillion.
Recurrent and capital allocations
Recurrent expenditure is pegged at N413.1 billion. Key recurrent items include personnel costs N154.8 billion, new recruitments N15.2 billion, overheads for MDAs N36.7 billion, pensions and gratuities (combined) around N95.1 billion, and interest and debt service totaling about N50.5 billion.
The capital budget is N1.405 trillion — a jump from N713.7 billion in 2025 — representing a 22.49% rise in infrastructure services expenditure and making capital spending the dominant share of the 2026 plan.
Sectoral capital breakdown
Major capital outlays highlighted by the governor include:
- Works and Infrastructure: N533.3 billion
- Educational Development: N315.0 billion
- Healthcare Delivery: N105.4 billion
- Rivers State House of Assembly: N41.4 billion
- Judiciary: N30.0 billion
- Agriculture: N19.3 billion
- Power: N15.0 billion
- Chieftaincy & Community Development: N8.5 billion
- Sports: N8.0 billion
- Youths: N7.0 billion
- Women Affairs: N6.5 billion
- Environment & Sustainable Development: N6.6 billion.
Fubara said the capital allocations prioritise new investments, completion of ongoing road projects, and maintenance of existing roads and bridges, while the large education allocation aims to improve outcomes across the state.
He told the House the budget is “people‑centred” and urged members of all political persuasions to support and approve it. The governor also proposed a minimum 50% increase in overhead expenditure to take effect once the appropriation becomes law.
