Gov Fubara proposes N1.85trn 2026 budget, raises MDAs overhead by 50%
Rivers State Assembly Receives Proposed Budget Exceeding One Trillion Naira
The Rivers State House of Assembly has been presented with the 2026-2028 Medium Term Expenditure Framework (MTEF), amounting to N1,854,248,734,475.76, by Governor Siminalayi Fubara.
During a presentation on Friday, the Governor introduced the proposal, titled the “Budget of Resilience for Growth and Development.” This budget reflects a 24.49 percent increase compared to the fiscal year 2025 estimate.
Governor Fubara attributed this growth to improved receipts from the Federation Account Allocation Committee (FAAC) and continued economic expansion within the state.
In detailing the revenue projections, the governor indicated that the estimated Internally Generated Revenue (IGR) stands at N487,609,336,496.97. Additionally, the FAAC allocation is projected at N936,052,408,964.24, with capital receipts expected to reach N382,481,387,908.60.
On the expenditure side, the governor proposed a recurrent spending plan of N413,109,396,705.70. Included in this allocation are N154.7 billion designated for salaries, N15.2 billion for new recruitment, and N36.7 billion for overhead costs across various ministries, departments, and agencies (MDAs).
Both gratuities and monthly pensions have been allocated N20 billion each, along with N5 billion set aside for insurance.
In a significant move aimed at addressing rising operational costs and settling outstanding salary arrears owed to civil servants, the Governor announced a 50 percent increase in overhead allocations to MDAs.
