Rivers State Governor, Nyesom Wike has signed into law the revised 2020 budget of N300.3billion.
The budget represents a 48 per cent decrease after a downward review from N530.8billion initially proposed last year.
Governor Wike signed the budget on Wednesday in the presence of the deputy governor, the Speaker of the House, members of the State Executive Council, among other top government functionaries.
This followed the presentation of the budget by the Majority Leader of the State House of Assembly, Martin Amaewhule, to him at the Government House in Port Harcourt, the state capital.
In his remark, the governor said the unfortunate effect of the COVID-19 pandemic, particularly in the country, necessitated the review.
Wike said that despite the reduction in capital and expenditure estimates, his administration will still be focused on delivering developmental projects to the people of the state.
“It is most unfortunate that everybody is living a different life now because of the pandemic, which calls for us to face the economic reality
“The COVID-19 has affected economic activities and revenues of government, and so it became necessary to review our budget.
“We are the only State that has not cut down the salaries of political appointees and elected officers. Virtually all the States have cut down 20 to 30 percent of salaries of political appointees. Having cut down the recurrent expenditures, the overhead will no longer be the same,” he said.
Speaking also, the Speaker of the House, Ikuinyi-Owaji Ibani commended Governor Wike for implementing policies and programmes to the benefit of the Rivers people.
He said the revised budget and revised medium-term expenditure framework stipulate actions of government to better the fortunes of the state and establish an enduring legacy for posterity.
