The Rivers State Executive Council was reported on Monday to have deliberated and approved a budget of N800 billion for the government to spend in the 2024 fiscal year.
A press statement by Boniface Onyedi, Senior Special Assistant SSA to Governor Siminalayi Fubara, stated that the budget was approved at a meeting presided over by the Governor at the Executive Chamber of Government House in Port Harcourt.
The SA Council also approved that the budget be christened “Budget of Renewed Hope, Consolidation, and Continuity.”
Addressing newsmen after the meeting, the Rivers State Commissioner for Information and Communications, Warisenibo Joseph Johnson, said N412bn was projected for capital expenditure, while recurrent expenditure has N361bn.
“We had the 5th council meeting of Rivers State. We deliberated on the Medium Term Expenditure Framework, which is usually a precursor to discussing the budget.
“An 83-page document was also presented, which has the budget estimate. The budget estimate for 2024 is N800 billion, and it is tagged “Budget of Renewed Hope, Consolidation, and Continuity,” the Commissioner stated.
He added: “Essentially, the budget is focused on some key areas, with infrastructure taking the lead with N128 billion of the budget, followed by education, health, and security.”
On his part, the Secretary to the Rivers State Government (SSG), Dr Tammy Danagogo, said the budget estimate that has been approved by the council is aimed at giving the Rivers people renewed hope that will guarantee a continual harvest of projects and human capital development.
Dr. Danagogo said, “We approved an estimated budget of N800,392,485,433.33kobo, which we believe, by the time it gets to the state House of Assembly, the public will be made to see and understand all the projections and fundamentals.
“Basically, the essence of the budget is to give the people and residents of Rivers State renewed hope and to ensure that there is consolidation and continuity in what has been happening in terms of the harvest of projects we have been having in the state and, of course, other areas, particularly in human capital development, security, investment drive, and ease of doing business.”
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