Politics Rivers: Gov Wike Presents Budget of N510bn For 2018


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LequteMan

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Governor Nyesom Wike of Rivers state has presented a budget of N510bn for 2018 to the Rivers State House of Assembly.

Named the “Budget of Consolidation, advancement and empowerment", the appropriation document is expected to 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.

According to the governor, the budget has N380 billion as capital expenditure, while N132 billion will be used for recurrent expenditure.

He added that 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.
 

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