Governor Nyesom Wike of Rivers has presented a budget of N470bn for the 2017 fiscal year.
He proposed N141 billion being 30 per cent of the budget for recurrent expenditure.
He further proposed N329 billion, representing 70 per cent of the budget for capital expenses.
While presenting the 2017 Budget in the State House of Assembly in Port Harcourt, Governor Wike said the State’s 2017 budget will accelerate economic growth.
The governor said the budget was done bearing in mind the current economic situation in the country.
Wike said the budget was premised on the need to consolidate achievements of 2016 and to restore the state’s economy.
“We need to return to the path of sustainability and growth as well as expand economic opportunities for all sectors.
“ We want to enhance the business environment, including tackling the security challenges for the private sector to grow’’, he said.
He pledged the readiness of his government to ensure effective implementation of the budget in the interest of the state.
“We have said it severally, the days of wasting scarce public resources on frivolities or unviable social and economic programmes are over for good’’, he said.