Governor Nyesom Wike of Rivers state, has presented a budget of N470 billion for the 2017 fiscal year to the State House of Assembly for approval.
The budget tagged, Golden Jubilee budget for accelerated development, earmarked N329 billion for capital development and N141 billion for recurrent expenditure.
The governor explained that the administration would focus on achieving rapid development in all parts of the state, adding that the government would also tackle security challenges in the state to ensure that a conducive business climate was provided.
According to him, his administration will give special attention to growth of education and the health sector, noting that it would also expand its internally generated revenue base in the coming year.
Funding for the budget will come from the Federal Allocation, the 13 percent derivation to oil producing states, Value added Tax, reimbursements and internally generated revenue.
The budget tagged, Golden Jubilee budget for accelerated development, earmarked N329 billion for capital development and N141 billion for recurrent expenditure.
The governor explained that the administration would focus on achieving rapid development in all parts of the state, adding that the government would also tackle security challenges in the state to ensure that a conducive business climate was provided.
According to him, his administration will give special attention to growth of education and the health sector, noting that it would also expand its internally generated revenue base in the coming year.
Funding for the budget will come from the Federal Allocation, the 13 percent derivation to oil producing states, Value added Tax, reimbursements and internally generated revenue.
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