Wike presents N307bn budget for 2016

The Rivers state Governor, Nyesom Wike has presented a N307b (Three hundred and seven billion naira) 2016 budget before the State House of Assembly.

Presenting the budget titled, “Budget of Consolidation”, Governor Nyesom Wike said priority was given to all the sectors of the economy.

The Rivers state governor also pegged the crude oil benchmark at $35bd.

He said the budget will be funded through the Federal government allocation, the Internally Generated Revenue, valued added tax and through partners of developmental projects.

Governor Wike proposed the sum of N120b (one hundred and twenty billion naira) for recurrent expenditure and a total of N187 (one hundred and eighty seven billion naira) for capital expenditure.

Reacting to the governors presentation, Speaker of the House, Ikunyi Igbani described the budget as one with conservative projections, adding that the governor has put a lot into consideration before drafting the budget.

The Rivers state governor was accompanied to the Assembly by the Deputy Governor, Ipalibo Harry, members of the newly inaugurated State Executive Council and leaders of the PDP in the state.

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