Tagged the “Budget of Resilience for Growth and Development,” the appropriation bill was laid before lawmakers on Friday as the governor outlined his administration’s priorities.
Speaking during the budget presentation, Fubara said the proposal was structured to build on achievements already recorded in infrastructure, human capital development, security, and economic expansion, while maintaining prudent management of the state’s finances.
The governor said his administration had continued to deliver effective governance despite prevailing challenges, adding that significant progress had been made in key sectors of the state’s economy.
He credited Rivers State’s stable financial position to prudent fiscal management, transparency, and a strong commitment to accountability in the use of public resources.
According to Fubara, the proposed budget projects total revenue of N1.854 trillion, representing a 24.49 per cent increase compared to the adjusted 2025 budget.
He explained that the projected revenue would be sourced from Internally Generated Revenue (IGR), allocations from the Federation Account Allocation Committee (FAAC), derivation funds, grants, loans, proceeds from asset sales, and opening balances.
A breakdown of the revenue estimate shows that N487.61 billion is expected from internally generated revenue, while N936.05 billion is projected from FAAC allocations, including derivation funds, Value Added Tax (VAT), and exchange gains.
The budget also projects N382.48 billion from capital receipts, grants, loans, and asset sales, while opening and closing balances are expected to contribute N48.11 billion to the overall revenue forecast.