The Rivers State Executive Council has approved a N1.85 trillion budget proposal for the 2026 fiscal year, setting the tone for the state’s spending priorities amid prevailing economic challenges.
This is according to disclosures made by state officials following the council meeting presided over by Governor Siminalayi Fubara, News Agency of Nigeria (NAN) reports.
The approval was announced after the executive council concluded its review of the spending framework, which outlines capital and recurrent expenditures for the 2026 fiscal period.
The budget will now be presented to the Rivers State House of Assembly for legislative consideration and approval.
What they are saying
Briefing journalists in Port Harcourt, the Special Adviser to the Governor on Economic Matters, Prof. Peter Medee, said the N1.85 trillion budget would prioritise the completion of ongoing projects across the state.
“The budget sum of 1.85trn would fund outstanding obligations in critical sectors, including infrastructure, health and education. Agriculture, youth empowerment, culture, tourism, and ICT will also be adequately prioritised by the budget,” he said.
Also speaking, Mr Honour Sirawoo, Permanent Secretary, Ministry of Information and Communications, said that the proposal was carefully scrutinised by the council to ensure value for money.
According to him, the approved sum is meticulously channelled to improve the welfare of the people.
What this means
If approved by the Rivers State House of Assembly, the N1.85 trillion budget could play a key role in driving economic activity, completing stalled projects, and improving public service delivery in the state.
The emphasis on infrastructure, social sectors, and productive areas such as agriculture and ICT suggests a strategy aimed at boosting growth while addressing unemployment and social welfare.
However, the effectiveness of the budget will largely depend on revenue performance, fiscal discipline, and the government’s ability to translate allocations into tangible outcomes for residents of Rivers State.
What you should know
In January 2025, Governor Fubara signed the N1.1 trillion 2025 budget into law, marking a pivotal moment for the state’s fiscal and developmental agenda.
The N1.1 trillion budget is structured as follows:
- Recurrent Expenditure: N462,254,153,418.98
- Capital Expenditure: N678,088,433,692.03
- Planning Reserve: N35,688,864,931.16
- Closing Balance: N12,931,287,890.19
Governor Fubara disclosed that the budget would be financed through multiple revenue streams, including allocations from the Federation Accounts Allocation Committee (FAAC), Internally Generated Revenue (IGR), Statutory Allocations, Mineral Funds, Value Added Tax (VAT), and various refunds.
Also in 2025, lawmakers allegedly barred Rivers State Governor, Siminalayi Fubara, from accessing the House of Assembly to re-present the 2025 budget.
Speaking at the scene, the governor expressed frustration, stating that he had formally communicated with Speaker Amaewhule through a letter and made several attempts to reach him and other lawmakers.