NAN-H-73
Commendation
By Azubuike Okeh
Port Harcourt, Jan. 13, 2017 (NAN) Dr Ipalibo Banigo, Deputy Governor of Rivers, has commended the legislature for its speedy passage of the State’s budget for 2017.
Banigo gave the commendation in a statement following the signing of the Bill into law by Gov. Nyesom Wike in Port Harcourt on Friday.
“The legislators have shown that they are passionate about the rapid socio-economic development of the state’’
She expressed optimism that the budget, christened “Golden Jubilee Budget for Accelerated Development”, would upon implementation make Rivers to witness infrastructure boom.
Banigo said the early passage and assent to the bill were capable of facilitating early release of funds for the implementation of projects.
She stated that allocating 70 per cent of the budget to capital expenditure was a deliberate effort by the government to provide critical basic infrastructure for the people.
The News Agency of Nigeria (NAN), reports that the state’s 2017 budget as passed and signed into law stands at N 470 billion.
Out of the amount, N329 billion, representing 70 per cent, is for capital expenditure while N141 billion is for recurrent expenditure. (NAN)
AZU/FAT/IEA
Edited by Fatima Sule/Idahosa Asowata
=============================