Friday, January 16, 2015 5:32 am
Governor Chibuike Amaechi of Rivers State has presented N335 billion budget for this year to the State House of Assembly for consideration.
Amaechi said the budget was made up of N216.31 billion as capital expenditure while N118.68 billion was for recurrent expenditure.
Amaechi said government was constrained by the dwindling allocation from the federation account while drawing up the estimates.
According to him, the budget is 31 per cent lower than the 2014 budget of N485.52 billion.
Amaechi noted that the state was being modest and realistic going by the financial experience of 2014.
He said the economic sector gulped N68.72 billion, while the social sector had N38.25 billion.
According to him, the administrative sector has N28.18billion, while special heads, votes and others has N 38.81billion.
Amaechi stressed that loan repayments would gulp N40.56billion.
He noted that the Ministry of Works had N20.30billion while the Ministry of Transport has N1.5billion.
The governor said the Ministry of Education would take N10billion while the Ministry of Health gets N2billion.
The sports sector was allocated N2billion while Agriculture Ministry got N1.5 billion.
He said the top priority of the administration was to complete ongoing projects as soon as the budget was passed into law.
The Speaker of the Assembly, Mr Otelemaba Amachree, commended the governor for the early presentation of the budget.
He appealed to him to complete all ongoing projects for the benefit of the people.