Nigeria’s oil-rich Rivers State to spend N448bn in 2021 in pursuit of inclusive growth
December 3, 20201.1K views0 comments
- Finance commissioner fails to list sectoral allocations
- State to spend N2.75bn on LG elections
- New budget 49.37% higher than revised 2020 budget
Oil-rich Rivers State has budgeted N448 billion (Four hundred and forty-eight billion, six hundred and sixty million, seven hundred and seventy-three thousand, four hundred and seventy-six naira (or N448,660,773.476) for the 2021 fiscal year, the state executive council approved the amount in a meeting on Monday presided over by Governor Nyesom Wike.
The new 2021 budget is higher than the state’s outgoing 2020 revised budget by N148.29 billion or 49.37 percent. Last August, Governor Wike signed into law a revised state budget of N300.37 billion (or N300,370,071,183.33 billion).
Isaac Kamalu, finance commissioner told journalists in Port Harcourt that the proposed budget estimate will help the state government to accomplish all ongoing projects in the state, and also pursue an inclusive growth by making life better for the people.
Kamalu, who is also the supervising commissioner of the state budget and economic planning ministry, said the council approved a three-year medium-term expenditure framework (MTEF) for the state for 2021-2023. He however, failed to give a detailed budget estimate with sectoral allocations. He also did not give out any printed budget document.
Paulinus Nsirim, the state commissioner for information and communications, said the government would be spending N2 billion in the 2021 fiscal year to prosecute local government elections that would be administered by the state independent electoral commission (RSIEC), in line with the 1999 Constitution.
He said the government would construct a new motor park within the precinct of the newly inaugurated Rebisi Flyover, intended to curb activities of illegal park operators in that axis. “This is in line with the urban renewal vision of Governor Wike. And to ensure that the illegal motor park around the flyover does not deface the aesthetics that have been achieved, government is acquiring land near the flyover bridge to build a befitting motor park for them,” he said.