Gov. Fubara Submits 2026–2028 Medium-Term Fiscal Framework to Rivers Assembly

Governor Siminalayi Fubara of Rivers State has officially submitted the State's 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the Rivers State House of Assembly for consideration and approval.

The fiscal blueprint, which outlines the state's economic projections, expenditure plans, and revenue strategies over the next three years, is expected to guide the preparation of the 2026 Appropriation Bill and serve as the foundation for the state's medium-term financial planning.

In the document presented to the lawmakers, the governor projected total revenue for the 2026 fiscal year, with allocations spread across capital expenditure, recurrent expenditure, and statutory transfers.

The framework is anchored on key assumptions including projected crude oil prices, oil production benchmarks, and exchange rate forecasts in line with the Federal Government's fiscal projections.

Fubara, in his transmittal letter to the Speaker of the Rivers State House of Assembly, requested the expeditious consideration and approval of the document to enable his administration to prepare and present the 2026 budget proposal within the constitutional timeframe.

The governor noted that the MTEF and FSP would provide a clear road map for sustainable development, fiscal discipline, and accountable governance, while also aligning the state's priorities with the broader national economic agenda.

He stressed that the framework would prioritise critical sectors such as infrastructure development, education, healthcare, agriculture, security, youth empowerment, and social welfare, all aimed at improving the living standards of Rivers people.

The governor also highlighted the importance of revenue diversification, internally generated revenue enhancement, and prudent management of public resources as central to achieving the goals outlined in the fiscal document.

Receiving the document on behalf of the Assembly, the Speaker assured the governor of the legislature's commitment to a thorough and timely consideration of the framework in line with constitutional provisions and the best interest of the state.

The Assembly is expected to refer the document to its relevant committees for detailed scrutiny before it is debated and passed on the floor of the House.

The submission of the 2026–2028 MTEF and FSP marks a significant step in the state's annual budgetary process and underscores Governor Fubara's administration's commitment to transparency, accountability, and strategic economic planning.