Less than 72 hours after BusinessDaySunday’s special report on possibility of Rivers State joining the status of an ‘ungoverned territory’, the state’s 2026 budget which had caused uproar for not being looked into by the state’s House of Assembly, was debated, approved, and signed into law.
The speed was described by some observers as ‘supersonic’ for the fact that the budget had remained ‘abandoned’ since July 10, 2026, only to gain speed after media uproar.
By Monday, August 31, 2026, the House led by Martin Amaewhule picked it up and began action. By Wednesday, talks were more serious, and by Thursday, September 3, 2026, the budget was transmitted to the Government House for signing.
This, again, has demonstrated the power of public opinion, or what the voice of the masses can do.
Friends again: Gov Sim Fubara in warm handshake with Martin Amaewhule, Speaker, backed by others.
Friends again: Gov Sim Fubara in warm handshake with Martin Amaewhule, Speaker, backed by others.
A Government House statement signed by Onwuka Nzeshi, Chief Press Secretary to Governor Siminalayi Fubara, aroused the people of the state announcing that the governor just signed the budget into law.
He said that Governor Fubara described it as ‘a breath of fresh air’ and the beginning of a new chapter of unity and progress for the state.
Fubara was quoted thus: ‘First of all, we want to thank the Almighty God for making this day a reality. I strongly believe that it is a breath of fresh air and a healthy relationship moving forward.’
The governor was said to have commended the members of the Rivers State House of Assembly particularly, for their diligence and speed in handling the budget at a critical time in the state’s history.
Fubara reaffirmed his administration’s commitment, to the ‘Rivers First’ mantra, and pledged that the 2026 budget will be implemented with the people’s welfare as the central focus.
‘I want to assure you that our intention will still remain the progress and development of our dear state,’ he said.
Fubara, who was said to have had a meeting with Nyesom Wike, minister of the Federal Capital Territory (FCT), when the budget was stranded, publicly commended his once-estranged godfather for facilitating the process that led to the passage of the bill and its eventual signing into law. Probably to show that the impasse was purely a political battle, the governor appreciated his family for their support, noting that governance was a collective responsibility.
Major Jack, majority leader of the Rivers State House of Assembly, who had earlier presented the bill to the Governor for assent, said the lawmakers passed the budget with the best of intentions, believing that it would be implemented accordingly for the benefit of the people of Rivers State.
In a remark shortly after the bill had been signed, Martin Amaewhule, speaker of the Rivers State House of Assembly, commended Fubara for the various provisions made in the budget, describing them as indications that the Fubara administration was prepared to deliver the dividends of democracy to the people of Rivers State.
It is not clear what the Speaker saw that convinced him that Governor Fubara was truly committed to moving the state forward.
Rumours were rife that the lawmakers placed a demand of N500million for each member. Other sources mentioned demands of an SUV vehicle to each member.
Though no source was ready to confirm these openly spoken demands, it was gathered that the total liability of the budget to the lawmakers was to be N204bn. Many said it was to be for ‘constituency projects’ the banner name under which elephants can be covered.
It is not clear whether the ‘demands’ were agreed or not, but the speed of the passage showed that ‘peace’ had truly been achieved.
What seemed to give signs of political interference in the budget process is the alleged rejection of N6bn subvention to Peter Odili’s PAMO Medical University. Many hailed the rejection but some other pointed out that the tradition was started by the same camp (Wike’s) that was now against it. They also pointed out that the lawmakers would need to track its origin and probably punish the administration that initiated it.
Fubara had however, once backed the subventions to PAMO, saying it was necessary because the state stopped foreign scholarships and resorted to awarding scholarships to 100 indigenes to study medical courses at home (at PAMO).
Financials
FAAC N936bn or N78bn per month
IGR: N437bn or 40bn per month
Loans: N382BN
Budget details: While presenting the budget on Friday, July 10, 2026, Fubara placed the total estimated revenue for the year at N1.8 trillion but gave total expenditure at N1.85trn.
He said the 2026 budget, titled ‘Budget of Resilience for Growth and Development,’ is the result of considerable public participation in a shared vision for building an economically resilient, thriving and prosperous Rivers State.
Fubara said that despite the challenges confronting the state, ‘The machinery of governance has continued to function, and we have made significant progress in our priority areas of road infrastructure, human capital development, as well as in the security of lives and property.’
The governor said the total projected revenue for the 2026 fiscal year N1.85trn only. ‘This means our proposed total operating revenue for 2026 is projected to increase by 24.49 percent over the 2025 adjusted budget projections, due to possible increases in returns from FAAC, derivation funds and internally generated revenue, as the national economic outlook continues to show positive growth,’ he said.
Fubara noted that the details of the 2026 Budget assumptions and fiscal objectives were outlined in the Medium-Term Expenditure Framework 2026-2028, which he said the House had already considered.
He listed projected revenue and sources as follows: Internally Generated Revenue (IGR) N487.6bn; total FAAC allocation, including derivation funds, value-added tax and exchange gain N936.0bn; opening and closing balances N48.1bn; and total capital receipts, including domestic loans, grants and asset sales N382.5bn; with total projected revenue placed at N1.85trn.
Fubara further said a total of N413.1bn was allocated to recurrent expenditure.
A breakdown of recurrent expenditure included: total personnel costs, including salaries for ministries, departments and parastatals N154.7bn; new recruitments N15.2bn; consolidated revenue fund charges N772.9m; overheads for MDAs N36.7m; grants, contributions and subsidies N9.7bn; gratuities N20bn; death benefits N7.bn; and monthly pensions N55bn.
Others include Employee Compensation Act N4bn; legacy pension gratuities N20bn; group life insurance N5bn; interest on domestic loans N28bn; interest on foreign loans N6.5bn; short-term domestic loan principal repayment N3.9bn; long-term domestic loan principal repayment N30.4bn; and foreign loans principal repayment N15.7bn, totalling N413.1bn.
Fubara added: ‘Mr. Speaker may wish to note that we have proposed at least a 50% increase in overhead expenditure, to be enacted immediately once the budget becomes law.’
He said the sum of N1.4trn is allocated to capital expenditure. The sectoral breakdown is as follows: Administration N278.7bn, Economic N625.9bn, Law and Justice N65.3bn, and Social N435.4bn, totalling N1.4trn.
Fubara noted that ‘the capital budget has increased from N713.7bn in 2025 to N1.4trn in 2026, saying it is a 22.49% rise in infrastructure services expenditure.
‘Major capital expenditure is planned in the following areas: Works and Infrastructure N533.3bn, Educational Development N315bn, Healthcare Delivery N105.4bn, Rivers State House of Assembly N41.5bn, Rivers State Judiciary N30bn, Agriculture N19.3bn, Power N15bn, Chieftaincy and Community Development N8.5bn, Sports N8bn, Youths N7bn, Women Affairs N6.5bn, and Environment and Sustainable Development N6.6bn.’
Fubara made it clear that his administration did not tolerate mismanagement at any level. ‘We have wisely utilised public funds to provide services, attract investment, create jobs, and offer socio-economic opportunities for our people.
He said the budget has proposed at least a 50 percent increase in overhead expenditure, to be enacted immediately once the budget becomes law. He said the N15bn has been provided for payment of new employees.
Now that the budget has been signed, many expect faster speed in implementation and project execution, especially as the rains would begin to recede. The state’s construction window is usually from November to May.