Fubara has presented N1.85trn 2026–2028 Expenditure Framework to Rivers Assembly.
NewsOnline Nigeria reports that Rivers State Governor, Siminalayi Fubara, has presented a N1.85 trillion Medium Term Expenditure Framework (MTEF) for the 2026–2028 fiscal period to the state House of Assembly.
The proposal, tagged “Budget of Resilience for Growth and Development,” was presented on Friday and is projected at N1,854,248,734,475.76, representing a 24.49 per cent increase compared with the 2025 fiscal year estimate.
ALSO: Atiku Abubakar Joins Calls Demanding Tinubu’s Resignation
Presenting the framework, Governor Fubara attributed the projected increase to improved revenue inflows from the Federation Account Allocation Committee (FAAC) and sustained economic growth within the state.
On the revenue outlook, the governor projected Internally Generated Revenue (IGR) at N487.61 billion, while FAAC allocation was estimated at N936.05 billion and capital receipts projected at N382.48 billion.
For expenditure, Fubara proposed recurrent spending of N413.11 billion as part of the framework.
A breakdown of the recurrent expenditure showed that N154.7 billion was allocated for salaries, N15.2 billion for new recruitment, while N36.7 billion was earmarked for overhead costs across ministries, departments and agencies (MDAs).
The governor also proposed N20 billion each for gratuities and monthly pensions, with an additional N5 billion allocated for insurance obligations.
Fubara announced a 50 per cent increase in overhead allocations to MDAs, explaining that the decision was aimed at addressing rising operational costs and improving efficiency across government institutions.
He added that the increased allocations would also support efforts to clear outstanding salary arrears owed to civil servants in the state.
The MTEF is expected to serve as the fiscal framework for Rivers State’s medium-term budgeting and development priorities from 2026 to 2028.
