by Chiburoma Glory Nwabueze
The Rivers State governor, Barr. Ezebunwo Nyesom Wike Today presented a budget estimate of 550billion naira for the 2023 fiscal year to the state House of Assembly.
The Rivers State government budgeted the sum of 175 billion naira for recurrent expenditure while 350 billion naira is for capital expenditure.
This was disclosed during the budget presentation ceremony at the state House of Assembly.
The governor reiterated that his administration will continue to prioritize capital projects in the state over recurrent in the budget tagged Consolidation and Continuity.
He stated that the budget will be funded from the Federation Account Allocation Committee (FAAC) receipts, 13% Oil Mineral Derivation Fund, Internally Generated Revenue, bank loans, sales of state assets and grants from development agencies.
He also announced the introduction of free feeding programme for pupils in primary schools to increase enrolments and lower the rate of out of school children in the state.
“We have also provided the sum of N5,000,000,00.00 under Special Projects to introduce and fund a free feeding programme for pupils in our primary schools to increase and sustain enrolments and reduce poverty,” he said.
Gov. Wike believes the budget will consolidate on the successes of his administration in the state.
