By Mike Odiegwu and Rosemary Nwisi, Port Harcourt
Rivers State Governor Nyesom Wike on Wednesday presented a N448,660,773,476 billion budget for the 2021 fiscal year to the House of Assembly.
The ‘Budget of Recovery and Consolidation’ allocated N305.8 billion for capital expenditure and N142.7 billion for recurrent expenditure.
Governor Wike said the budget represents about 20 per cent increase over the 2020 N300 billion budget.
The capital expenditure, representing, 68.18 per cent, constitutes administrative sector (N87.7 billion); Economic sector (N105 billion); Law and Justice (N1.7 billion); Social sector (N132 billion) and deductions/loan repayments (N38 billion).
The governor said N82.9 billion was allocated to provide infrastructure, including roads, bridges, and completion of flyover projects at Okoro-Nu-Odo, Rumuola, Rumuogba, and Port Harcourt GRA junction.
“We will also deliver the Ogoni/Andoni/Opobo unity road, the Eastern bypass dualisation, 6th and 7th flyover projects and the Wakama road, other ongoing rural roads in our communities and local government areas,” he added.
Speaker of the House of Assembly Ikuinyi Ibani hailed Wike’s commitment towards transforming the economy. He described the budget as a balanced plan.
He assured Wike of the House’ continued supports, saying the lawmakers would diligently consider and pass the budget.