Gov. Nyesom Wike of Rivers has presented a budget of N307 billion for 2016 fiscal year to the state house of assembly.
Rivers governor presents N307bn budget for 2016
He said that in the recurrent expenditure, N55 billion was appropriated for workers’ salary, N15 billion for security and N18 billion for pension and gratuity, among others.
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Presenting the budget on Friday evening, the governor said that N187 billion was earmarked for capital expenditure while N120 billion was for the recurrent expenditure.
Wike said that in spite of the economic challenges of the country, the government was committed to serving and improving the lives of the people.
Mr Ikunyi Ibani, Speaker, Rivers House of Assembly, said that the budget presented by the governor was conservative.
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According to him, it shows that the government has the interest of the people at heart and will provide adequate service to the people.
The speaker announced the approval of the budget by the house following the recommendation of the committee on budget.
Ibani however, announced that he was stepping ``aside’’ after the approval, giving no reason for his resignation.
Mr Victor Ihunwo from Phalga Constituency 3 was immediately elected as the Acting Speaker of the house.
Ihunwo immediately called for the election of a new speaker and Mr Adams Dado-torudima from Okrika Constituency was unanimously elected.
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In his remark, Ihunwo thanked the house for its support
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