2026 budget: Fubara presents N1.85trn estimates to Rivers Assembly as fight ends

RIVERS State Governor Siminalayi Fubara on Thursday presented a proposed N1.854 trillion budget for the 2026 fiscal year to the Rivers State House of Assembly, marking his first appearance before the Martin Amaewhule-led legislature since the political crisis that fractured the Assembly in 2023.

The presentation, which reflected renewed cooperation between the executive and legislature, came months after both sides reconciled following nearly 3 years of parallel legislative sittings and competing budget presentations. Lawmakers assured the governor that the appropriation bill would receive prompt consideration.

Proceedings began with Speaker Martin Amaewhule taking his seat in full ceremonial attire before Governor Fubara arrived at the chamber. The Majority Leader, Major Jack, moved a motion to admit the governor, which was seconded by Minority Leader Sylvanus Nwankwo before the governor formally laid the budget before the House.

READ ALSO: APC clears 33 Rivers Assembly aspirants, disqualifies Fubara allies

Tagged the ‘Budget of Resilience for Growth and Development,’ the proposal is designed to drive economic expansion, strengthen infrastructure, improve education and healthcare, and expand social investment programmes across the state.

Fubara said the state expects to generate N1.854 trillion in revenue in 2026, representing a 24.49 percent increase over the revised 2025 budget. He attributed the projected growth to improved allocations from the Federation Account Allocation Committee (FAAC), increased derivation revenue and stronger internally generated revenue (IGR).

Out of the total estimate, N413.1 billion is proposed for recurrent expenditure, while N1.405 trillion has been earmarked for capital projects. The largest capital allocations include N533.3 billion for works and infrastructure, N315 billion for education, N105.4 billion for healthcare, N41.4 billion for the Rivers State House of Assembly, N30 billion for the judiciary and N19.3 billion for agriculture.

The governor also disclosed plans to raise overhead allocations to Ministries, Departments and Agencies (MDAs) by at least 50 percent, while settling outstanding gratuities and death benefits owed to retired civil servants.

He said prudent financial management had enabled his administration to maintain fiscal stability, adding that transparency, accountability and responsible spending would continue to guide government expenditure.

“We will ensure every kobo is spent wisely to create jobs for our people. The collective interests of our people are most important to us as a government,” Fubara said.

He urged the lawmakers to approve the budget, describing it as a development-focused blueprint intended to accelerate economic growth, attract investment, generate employment and improve residents’ standard of living.

Responding on behalf of the Assembly, Speaker Amaewhule assured the governor that the House would give the budget proposal the attention it deserved.

“Let me assure you on behalf of the members that we will give due consideration to your budget proposals,” he said.

Amaewhule added that the Assembly remained committed to working for the progress of the state.

READ ALSO: 2024 Budget: Agric research institutes to spend 65% allocation on salaries, allowances

“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,” he said.

The appropriation bill subsequently passed its first reading before plenary was adjourned until July 20.

After the session, Governor Fubara exchanged pleasantries with lawmakers and posed for a group photograph alongside the speaker and members of the House, underscoring the improved relationship between both arms of government after years of political division.