By: Felix Ikpotor
The Rivers State Governor, Chief Nyesom Wike has proposed a total of 470 billion naira as budget for 2017.
This was contained in the 2017 Appropriation Bill presented by the governor on the floor of the Rivers State House of Assembly, RVHA, on Wednesday.
According to the budget, 70 percent is for capital expenditure while 30 percent is for recurrent expenditure.
The 2017 budget which is tagged, “Golden Jubilee Budget” is based on a benchmark of 40 naira per barrel of crude oil as against the federal government’s 45 naira per barrel.
Wike said the budget which is to consolidate on the 2016 budget will raise the standard of living of people of the state, create job opportunities and empower both women and youths.
Commenting on the budget of the 2016 budget, the governor said it performed above sixty percent despite the harsh economic situation coupled with the drop in federal allocation.
A breakdown of the budget shows that 15 billion naira was budgeted for security, N77.9 billion for the ministry of works, N30 billion for education and N27 billion for health amongst others.
Responding, the Speaker of the Assembly, Rt. Hon. Dabotorudima Adams said the budget has shown the governor’s desire to develop the state, adding that the assembly would continue to give him the required support.
