Gov. Fubara Presents 2024 Budget Of N800B To RSHA

... Assures enhancement in infrastructural development, education and healthcare

...Targets entrepreneurship, social welfare for Rivers people

Governor of Rivers State, Sir Siminalayi Fubara, has presented an appropriation bill of N800bn to the State House of Assembly for consideration.

Titled “Budget of Renewed Hope, Consolidation and Continuity”, the proposed 2024 budget allocates over N410bn to capital expenditure, representing 51 percent, while over N361bn, representing 49 percent is allocated to recurrent expenditure.

Governor Fubara said that the 2024 budget proposal is anchored on the projection of the crude oil price benchmark, being $70  per barrel at 1.5m barrels of production per day, with an exchange rate of Seven Hundred and Fifty Naira to the dollar.

According to him, the budget will be funded from Internally Generated Revenue, Federation Account Allocation Committee (FAAC) receipts, 13% Oil Mineral Derivation Fund, VAT, Excess Crude, and grants from development agencies.

"Our total projected revenue for the year 2024 is N800, 392, 485, 433.1k as proposed 2024 budget estimate. This constitutes as follows; recurrent expenditure is N361,998,242,570.85k Capital expenditure is N410,266,485,90.64k."

Governor Fubara explained that greater care will be taken to promote economic development through inclusive growth. While critical infrastructure will be provided to support economic activities, businesses, and social activities, there will be an enabling environment for private sector-led industrialization, job creation, and poverty alleviation.

"We will address the challenges of socioeconomic inequality by ensuring improved access to quality, affordable education, health care, water, social investment, gender empowerment, and social inclusion."

Sir Fubara said the 2024 budget allocates over N120bn to infrastructure, N40bn to education, N30bn to healthcare, and N20bn to agriculture with provisions made to continue to pay workers’ salaries including that of newly recruited staff into the civil service, as well as their gratuities and pensions.


Speaker of the Rivers State House of Assembly, Rt. Hon. Edison Ehie acknowledged the high budgetary provision to capital expenditure, including education and other critical sectors, which are clear indications that he is committed to bettering the life of the people and creating a more prosperous Rivers State.


Rt. Hon. Ehie said they are satisfied with the performance of the budget of the outgoing year under the leadership of Governor Fubara and assured him of the cooperation of the legislature to speedily consider the details of the budget with a view to passing it for his ascent.


Signed


Boniface Onyedi

SSA, Media to the Governor of Rivers State 


December 13, 2023

Comments

Post a Comment

Popular posts from this blog

Governor Caleb Mutfwang Rejoices With His Excellency, Nyesom Wike On Birthday

Image
Plateau State Governor, His Excellency, Barr Caleb Manasseh Mutfwang, joined other well-wishers and political associates in commemorating the birthday of the former Governor of Rivers State and Honourable Minister of Federal Capital Territory (FCT), His Excellency, Barr. Nyesom Wike, CON. In a press statement released from Jos, Governor Mutfwang paid tribute to Wike as a devoted, patriotic, and iconic figure in Nigerian politics. His selfless dedication to public service, Governor Mutfwang believes, will serve as a lasting inspiration for generations in service to Nigeria. Governor Mutfwang lauded the exceptional qualities of former Governor Wike, describing him as a selfless, courageous, and benevolent philanthropist as his impact on countless lives, especially among the less privileged, resonates across the nation.  He noted that the unwavering commitment of the Minister to Nigeria's unity as demonstrated through a lifetime of selfless political service, will continue to shape th
Read more

Education Remains a Top Priority of Our Policy Thrust: Gov. Fubara

Image
The Rivers State Government says it will continue to place education as one of the top most priorities of its policy thrust. Governor Sir Siminalayi Fubara stated this during the 34th Convocation Ceremony of the University of Port Harcourt on Saturday 24th February, 2024. The Governor who spoke through his Deputy, Professor Ngozi Nma Odu, said although the University of Port Harcourt is a Federal University the State Government would continue to support and collaborate with it to place it in a path that  would be the envy of other institutions. “We shall support you because whenever we add value to this institution, you add double value to whatever we have placed before you and we shall continue to ensure that you are given a place of high distinction and excellence”, the Governor stressed. Governor Fubara disclosed that his administration was desirous to create the enabling environment to ensure Rivers State remains a preferred destination to achieve quality education in the country,
Read more

Governor Mutfwang Crowns New Ngolong Ngas, HRH Nde Jika Golit

Image
The Executive Governor of Plateau State, Barr. Caleb Manasseh Mutfwang, has performed the coronation of the New Ngolong Ngas, Nde Jika Golit. The ceremony is coming nine years after the demise of the late Ngolong Ngas, Nde Joshua Dimlong. Governor Mutfwang, who performed the presentation of staff of office and certificate to the New Ngolong Ngas at the Pankshin Township Stadium, praised the Ngas Nation for a rancor-free selection process of the new Ngolong Ngas. He warned mischief makers against needless court actions that are capable of delaying or frustrating the selection and installation of traditional rulers in the state. He also implored citizens to alway accept the will of God in all circumstances. "I congratulate the Ngolong Ngas, Nde Jika Golit, on his ascension to the throne of his ancestors. His selection by the kingmakers, through a peaceful and rancor-free atmosphere, is worthy of emulation by other ethnic groups in the state." the Governor stated. "Let me s
Read more