Economy

Governor Wike Signs Rivers State Budget 2020

Rivers State Governor Nyesom Wike has signed the 2020 Budget of the state into law.

Governor Wike signed the 2020 Appropriation Bill passed by the State House of Assembly into law at the Executive Council Chambers of the Government House Port Harcourt on Monday.

The 2020 Rivers Budget is christened: Budget of ‚ÄúReassurance, profound impact for inclusive growth and shared prosperity.”

The Governor gave his assent in the presence of the Speaker of the Rivers State House of Assembly, Rt Hon Ikuinyi Ibani, House Members, Members of the State Executive Council and Permanent Secretaries.

The Rivers State House of Assembly Assembly on Friday passed the 2020 Budget of N530,813,357,619.00 for the sustained development of the state.

The Rivers State 2020 budget has a Total Recurrent expenditure of N156,659,436569.00, while Capital expenditure is N374,153,920,743.00.

Giving his assent to the 2020 Appropriation Bill passed by the Rivers State House of Assembly, Governor Wike assured that his Administration will diligently implement the budget for the rapid growth of the state.

He assured that his administration will build and consolidate on the gains and progress of 2019 for the benefit of Rivers people.

“This Budget will help in stimulating the economy and it will enhance the development of the state. With this budget, every part of Rivers State will experience development as our people will get more projects “, he said.

He noted that due attention will be paid to the agricultural sector to generate employment for women and youths

He said: “In the agricultural sector we will drive employment for youths and women. The empowerment of youths and women is a priority in the 2020 Budget.”

The Governor noted that his administration will mobilize resources from the different sources and scale up investments in infrastructure, human capital development and the productive sectors of Rivers economy to create jobs and improve the standard of living of the people.

He thanked the Rivers State House of Assembly for the expeditious passage of the 2020 budget, saying that the State Executive Council will commence implementation in January.

“I want to thank the Rivers State House of Assembly for the expeditious passage of the 2020 Budget. It means that the Executive has no excuse but to commence the implementation of the budget in January”, he said.

Speaker of the Rivers State House of Assembly, Rt Hon Ikuinyi Ibani commended the Rivers State Governor for promoting state-wide development, which has transformed Rivers State into a huge construction centre.

He assured that the Rivers State House of Assembly will continue to collaborate with the Rivers State Governor for the development of the State.

He said: “You have shown that you want to secure the future of Rivers people. That is what you have done with this Budget. That you are giving prominence to agriculture means that you want the good of Rivers people.”

He described Governor Wike as a leader who takes care of the interest of Rivers people.

Earlier while presenting the 2020 Budget to the Rivers State Governor for his assent, the Majority Leader, Rt Hon Martins Amaehwule said that the House gave the Budget accelerated hearing because it is interested in ensuring the development of the State.

“The House is pleased that there is a provision for agricultural development. We are happy with the revival of the school to land programme and the sustenance of the interest free loans for Rivers people”, he said.

He stated that the House is pleased with the performance of the 2019 budget. He urged the Rivers State Governor to ensure greater performance in 2020.