Rivers State Governor,
Nyesom Ezenwo Wike has presented the 2018 Appropriation Bill of N510billion to the Rivers State House of Assembly for consideration and subsequent approval.
Christened the budget of “Budget of Consolidation, advancement and empowerment”, Governor Wike said the budget will consolidate and advance the state’s investments in infrastructure, education, healthcare, and security, as well as in growing the economy to create jobs and empower the people.
Presenting the budget proposal to the House on Thursday, the governor said the proposed 2018 Rivers State Budget has N379, 997, 687, 404.00 as capital expenditure, while N132 billion will be used for recurrent expenditure.
He said: ” This gives a capital to recurrent expenditure ratio of 75 to 25 percent respectively.The substantial increase in capital over recurrent expenditure, once again, underscores our commitment to direct substantial resources to the critical growth sectors of our economy.”
Governor Wike said the 2018 budget will be funded from FAAC N40, 000,000,000.00,13% oil minerals fund: N120, 000,000,000.00 VAT :N6, 000,000,000.00: Internally Generated Revenue: N132,000,000,000.00,Reimbursements: N70,000,000,000.00, Domestic/International Credits N70,000,000,000,000 and Capital receipts N20,000,000,000.00.
The governor stated that a total portfolio of N90 billion and N35 billion have been allocated to the Ministry of Works and the Special Projects Bureau respectively to fund the delivery of capital projects in the 2018 budget.
He said that the administration is committed to the completion of key projects in different parts of the state. The projects include: Dualization of Sapkenwa – Bori road; Dualization of Slaughter – Trans Amadi – Garrison road; Dualization of Elelenwo – Akpajo road; Dualization of Oil mill – Woji – Elelenwo – Akpajo road Dualization of Professor Tam David West (Obiriikwerre – Airport) road; The Andoni – Opobo (Unity) road; and Internal road network in Abonnema in Akuku Toru Local Government Area, Amadi-Ama in Port Harcourt Local Government Area, Okochiri in Okrika Local Government Area, Elele and Isiokpo in Ikwerre Local Government Area, among others.
Other key projects also earmarked for delivery in 2018: Bonny – Bile Waterside jetty; Mile one market, phase 2; Reclamation works in Abalama in
Asari Toru Local Government Area, Ogu town in Ogu/Bolo Local Government Area, Bakana in DegemaLocal Government Area, and Ogbumnabali in Port Harcourt Local Government Area; Constituency projects;
Real Madrid Football Academy; Luxury living quarters for Judicial Officers from the State, among other projects; and the cinema and restaurant project in the Pleasure Park among other projects.
The governor added: “we shall also start some new projects, including the Women Development Centre the new world-class international conference centre, and roads.”
On education, Governor Wike said: “We are devoting N50 billion to fund the education sector for the 2018 fiscal year. This sum is N20 billion more than that of 2017. In addition, we have proposed a capital grant of N500 million to each of our tertiary institutions to bolster infrastructural development and improve quality.
” Apart from proposing the sum of N2 billion for the provision of scholarships for critical areas of the State’s manpower needs, we have also proposed to set aside another N2 billion to partner, encourage and support the development of private universities and improve access to tertiary education for Rivers indigenes in the State.”
Governor Wike stated that his administration is providing the sum of N30 billion in 2018 to enhance all aspects of the healthcare delivery system in the State, including the provision of health infrastructure for health institutions, recruitment and training of medical doctors and other healthcare personnel, refurbishing and equipping our primary healthcare centre.