The Rivers State House of Assembly have received the 2026–2028 Medium Term Expenditure Framework, MTEF, of over one trillion naira, N1,854,248,734,475.76 from Governor, Siminalayi Fubara.
On Friday, Governor Fubara presented the proposal christened “Budget of Resilience for Growth and Development,” which represents a 24.49 per cent increase over the 2025 fiscal year estimate.
The Governor linked the growth to improved receipts from the Federation Account Allocation Committee, FAAC, and sustained economic expansion within the state.
Breaking down the revenue side, the governor put projected Internally Generated Revenue at N487,609,336,496.97, with FAAC allocation estimated at N936,052,408,964.24 and capital receipts projected at N382,481,387,908.60.
On the expenditure profile, Fubara proposed recurrent spending of N413,109,396,705.70.
A breakdown shows N154.7 billion earmarked for salaries, N15.2 billion for new recruitment, and N36.7 billion for overhead costs across ministries, departments and agencies, MDAs.
Gratuities and monthly pensions were allocated N20 billion each, while N5 billion was set aside for insurance.
The governor further announced a 50 per cent increase in overhead allocations to MDAs, a move he said was designed to cushion rising operational costs and clear outstanding salary arrears owed to civil servants across the state.
Gov Fubara proposes N1.85trn 2026 budget, raises MDAs overhead by 50%