Amidst the ongoing political turbulence, the Rivers State Executive Council, led by Governor Siminalayi Fubara, has greenlit a substantial budget of N800 billion for the upcoming 2024 fiscal year. The meeting, held at the Executive Chamber of Government House in Port Harcourt on Monday, also designated the budget as the “Budget of Renewed Hope, Consolidation, and Continuity.”
After the deliberations, Warisenibo Johnson, the Rivers State Commissioner for Information and Communications, informed reporters that the budget outlines N412 billion for capital expenditure and N361 billion for recurrent expenditure.
He said: “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. It has the budget estimate. The budget estimate for 2024 is N800 billion. And it is tagged: ‘Budget of Renewed Hope, Consolidation and Continuity’.”
The Information Commissioner went on to say that “essentially, the budget is focused on some key areas with infrastructure taking N128 billion of the budget. It is followed by education, health and security.”
On his part, the Secretary to the Rivers State Government (SSG), Dr. Tammy Danagogo, said the budget estimates that have been approved by the council are aimed at giving Rivers people a renewed hope that will guarantee the continual harvest of projects and human capital development.
His words: “We approved an estimated budget of N800,392,485,433.33kobo. We believe that 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 the Renewed Hope. It is to ensure that there is a consolidation and continuity in what has been happening in terms of the harvest of projects we have been having in the state.
“Of course, other areas, particularly in human capital development, security, investment drive and ease of doing business.”