Fubara Unveils N1.85trn Expenditure Framework for Rivers

On Friday, Governor Siminalayi Fubara of Rivers State presented a N1.85 trillion Medium Term Expenditure Framework (MTEF) for the fiscal period of 2026-2028 to the Rivers Assembly. This proposed budget represents a 24.49% increase compared to the estimated budget for the 2025 fiscal year.

Governor Fubara attributed the increase to improved revenue inflow from the Federation Account Allocation Committee (FAAC) and the need to sustain economic growth within the state. The framework projects an Internally Generated Revenue (IGR) of N487.61 billion, with FAAC allocations estimated at N936.05 billion and capital receipts projected at N382.48 billion.

The proposed recurrent expenditure is N413.11 billion, which includes allocations of N154.7 billion for salaries, N15.2 billion for new recruits, and N36.7 billion for overhead costs across ministries, departments, and agencies (MDAs). Additionally, Fubara announced a N20 billion monthly pension and a N5 billion allocation for insurance obligations, alongside a 50% increase in overhead allocations to address rising operational costs and improve efficiency across government institutions.