Wike’s Proposed N510Bn Budget: Rivers Assembly Promises Speedy Passage

(By Iheanyi Ezinwo) -The Rivers State House of Assembly has promised to treat expeditiously the Appropriation Bill presented by Governor Ezenwo Nyesom Wike in support of efforts of the executive arm of government to advance the cause of development in the state.
This assurance was given by the Speaker of the Assembly, Rt. Hon. Ikuinyi-Owaji Ibani who observed that an analysis of the 2018 Budget shows that the Rivers State governor will consolidate on development in different sectors of the state’s economy.
In his presentation at the State Legislature on Thursday, Governor Wike said the proposed 2018 Rivers State Budget has N379, 997, 687, 404.00 as capital expenditure, while N132 billion will be used for recurrent expenditure.
Christened the budget of “Budget of Consolidation, advancement and empowerment”, Governor Wike said the budget is aimed at consolidating and advancing the state’s investments in infrastructure, education, healthcare, and security, as well as in growing the economy to create jobs and empower the people.
The 2018 budget, with capital to recurrent expenditure ratio of 75 to 25 percent, according to Governor Wike will be funded from FAAC, 13% oil minerals fund, VAT, Internally Generated Revenue, Reimbursements, Domestic/International Credits and Capital receipts.

Hinting that the N470 billion budget of 2017 recorded about 74 per cent performance, Governor Wike said that the State Government will continue to invest heavily in the security of lives and property through the funding of security agencies.
He also disclosed that his administration has approved the establishment of the Rivers State Neighbourhood Safety Corps to further enhance the security in the State, adding that, when fully established and operational, the corps will have the responsibility to collaborate with the security agencies to combat crime and cultism in our communities and neighbourhoods.

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