The Rivers State House of Assembly has promised speedy passage of the 2022 budget which was presented today.
Governor, Nyesom Wike presented a budget of N483,173,307,96 to the State House of Assembly for the 2022 fiscal year.
The governor, who appeared before the House, said the sum of N314, 903, 108,116 is earmarked for capital expenditure representing 70 percent of the total budget estimate while N114, 764, 818, 977 for recurrent expenditure represents 30%.
Further breakdown of the capital expenditure shows that administrative sector will gulp over N104 billion economic sector about N127 billion, law and justice N4 billion while the social sector will gulp over N79 billion.
In the recurrent expenditure; salaries and wages will cost over N77 billion while new recruitment will cost about N1 billion.
The 2022 budget is tagged, “Budget of Consolidation”.
