Okafor Ofiebor/Port Harcourt

Nyesom Wike: presents state budget for 2016

Rivers State Governor, Nyesom Wike, has presented the 2016 Appropriation Bill of N307 billion tagged ‘Budget of Consolidation”.

Wike made the surprise presentation today,  before members of the state House of Assembly at about 5:20pm.

The budget presentation came barely two weeks after the Assembly had passed the 2015 Supplementary Appropriation Bill of N104.2 billion.‬

Wike’s budget was  N31 billion less than former Governor Chibuike Amaechi’s 2015 budget, which was N338 billion.

The state government proposed N120 billion for recurrent expenditure in the fiscal year, while N187 billion was earmarked for capital expenditure.

In 2015 budget, N219 billion was for capital expenditure, while N119 billion was  recurrent expenditure.‬

Wike stated that the proposed budget would be financed through Federation Account allocation and Internally-Generated Revenue (IGR).

Governor Wike also mentioned that the government would diversify the economy of the state from oil to agriculture and industrialisation.

Responding, Speaker of the House, Ikuinyi-Owaji Ibani lauded the governor’s 2016 budget estimation, wishing that no personal interest would override corporate interest.

Governor Wike had earlier sworn in 22 new  commissioners  to assist the government  generate necessary  policies in line with  the  New Rivers Development Blueprint.