Wike signs 2017 Appropriation Bill, promises speedy development

Rivers State Governor Nyesom Wike has assented to this year’s Appropriation Bill passed by the state House of Assembly on December 28, with a promise to accelerate developments across the state.

The Rivers State Government budget had been pegged at N470billion for the 2017 Fiscal year of the proposed amount, the government said it would spend N329 billion for capital expenditure, a figure which represents 70 percent of the capital estimate to the projected budget volume, N141 billion recurrent, out of which N62 billion was earmarked for personnel emolument, N20 billion for payment of pensions and gratuities.

The overhead cost is expected to gulp N17 billion while N3 billion is expected to service the FGN bonds.

The governor christened the 2017 budget “the Golden Jubilee budget’’ as the state would be 50 years this year, hence; assuring massive execution of projects to mark the event.