Rivers Governor presents 2021 budget
By Eme Offiong, Calabar
Governor Nyesom Wike has proposed a budget of 448,660,773,476 billion naira for 2021 fiscal year to the Rivers State House of Assembly.
The Appropriation bill tagged “Budget of Recovery and Consolidation is made up of N305, 894, 284.061 for Capital Expenditure, while N142,776,489,415 was earmarked as Recurrent Expenditure.
Governor Wike, while presenting the budget to the lawmakers in Port Harcourt on Wednesday, said the 2021 budget represents more than 20 percent increase over the 2020 revised budget of N300 billion.
Budget breakdown
According to him, capital expenditure, which represents 68.18 percent of the entire budget size provided N87, 790,330,011.37 for the administrative sector; the economic sector was allocated N105,077,364,248.81 ; while law and justice would gulp N1,742,996,000.00.
He indicated that the social sector would take N132, 656,033,322.35, while deductions and loan repayments were pegged at N38,000,000,000.00.
The governor explained that the sum of N82,957,295,248.81 has been provided for infrastructure such as roads and bridges including the completion of flyover projects at Okoro-Nu-Odo, Rumuola, Rumuogba, and Port Harcourt GRA junction.
Wike stated, “we will also deliver the Ogoni – Andoni – Opobo unity road, the Eastern bypass dualization, 6th and 7th flyover projects and the Wakama road as well as all other ongoing rural roads in our communities and local government areas across the State.”
Stimulating growth
The governor explained that to stimulate economic growth, the government has proposed more than N6 billion naira for investments in commerce, culture and tourism, mineral resource development as well as tackle environmental challenges.
He stated that N13,861,407,451.97 has been provided to fund various social and economic investment schemes to support the development of small and medium scale businesses as part of efforts to create jobs and reduce poverty.
He further proposed that N16,107,080,000.00 would be spent on targeted investments in the agriculture value chain to enhance food security, while N30,000,000,00 has been earmarked for the education sector development.
On healthcare, Wike stated that “the State government has provided N25,111,728,000.00 for health care services for 2021 fiscal year. We will focus on completing the referral hospitals at Ahoada, Bori, Degema, Okehi and Omoku, which are all at advanced stages of completion”.
Governor Wike said that Recurrent Expenditure was pegged at N142,776,489,415 representing 31.82 percent of the 2021 budget.
A breakdown, he explained, provided N76,198,906,179 for personnel costs; N18,863,016,430 as overheads and N47,704,566,804 would be for grants and transfers to the consolidated revenue charges.
Budget funding
The governor disclosed that the 2021 budget would be funded from statutory allocation, 13 percent Oil Mineral Fund, internally generated revenue, value added tax, refunds for federal projects, excess crude oil deductions, domestic and foreign credits as well as grants from development partners.
He expressed optimism that the measures in the budget would reposition Rivers State on a stronger economic footing towards achieving the new vision for a peaceful, secure, inclusive and prosperous society.
The Speaker of the River State House of Assembly, Ikuinyi Ibani commended Governor Wike’s commitment to the economic transformation of the state and people.
He assured of the lawmakers’ determination to diligently consider and pass the budget on time.
Confidence Okwuchi
