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Rivers Assembly passes 2026–2028 fiscal framework
The Rivers State House of Assembly has passed the 2026–2028 Medium-Term Expenditure Framework, MTEF, barely 24 hours after it was presented by Governor Siminalayi Fubara.
The framework was approved following deliberations by lawmakers during plenary.
Speaker of the House, Martin Amaewhule, commended the executive arm for preparing the fiscal framework, describing it as a strategic financial document that will guide the state’s budgeting and development priorities over the next three years.
Despite its approval, Amaewhule expressed reservations about the revenue projections contained in the framework, noting that the estimates presented by the executive were significantly below prevailing economic realities, particularly in relation to international crude oil prices.
The framework projects a budget of N1.84 trillion for the 2026 fiscal year, with more than N400 billion earmarked for recurrent expenditure and over N1.4 trillion allocated to capital projects.
Twenty-two lawmakers attended the plenary session, with all members present voting in support of the passage of the Medium-Term Expenditure Framework.
Governor Siminalayi Fubara on Thursday formally presented the 2026–2028 MTEF to the Rivers State House of Assembly.
During an emergency plenary, Speaker Amaewhule read the governor’s letter formally transmitting the fiscal framework to the House for legislative consideration.
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