Wike presents N480bn Rivers Appropriation Bill for 2019

Posted by News Express | 25 December 2018 | 1,255 times

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•Governor Wike presenting 2019 Budget to Rivers Assembly

Rivers State Governor, Nyesom Ezenwo Wike 2019 on Monday presented the 2019 Appropriation Bill of N480billion to the State House of Assembly for consideration and approval. 

Presenting the 2019 Appropriation Bill to the House, Governor Wike said the strategic thrust for the 2019 budget is to promote economic growth and diversification, create jobs and reduce unemployment; take as many of Rivers people out of poverty and improve the standard of living of Rivers State.

The budget is premised on an oil price bench mark of 55 United States Dollars per barrel, which is 5 dollars lower than that of the Federal Government.
The 2019 Rivers State Budget is Christened: “Budget of Sustainable Growth and Development.”

The governor proposed N323, 288,970,085.00 as capital expenditure, while Recurrent Expenditure will gulp N157, 122,354,564.15.

He said: “The capital allocation of 323,288,970,085.00 for the 2019 fiscal year represents 65 per cent of the total budget. This sum is, however, less than the figure for 2018 by N57, 708,717,319.00 due to the reduction in the total size of the 2019 budget as against that of 2018.

He said because the 2019 Appropriation Bill has set priorities for human capital development and infrastructural provision, a substantial part of the capital budget is allocated to the Ministries of Agriculture; Education; Employment Generation and Empowerment; Health; Sports Development; Women Affairs; Works; and Youth Development.

Speaker of the Rivers State House of Assembly, Mr Ikuinyi-Owaji Ibani said the House will give the budget the required consideration in the interest of the state.

He noted that the House has already approved the Medium Term Expenditure Framework, which will form the basis of the budget’s consideration.

The budget passed through its first reading after the State Governor laid the budget on the table.

•Excerpted from a Channels TV report

Source: News Express

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