The Rivers State Executive Council has approved an estimated N800bn budget christened Renewed Hope, Consolidation, and Continuity for the 2024 fiscal year.
The meeting presided over by Governor Siminalayi Fubara on Monday was held at the Executive Chamber of Government House in Port Harcourt.
The state commissioner for information and communications, Warisenibo Joseph Johnson, said N412bn was allocated to capital expenditure while recurrent expenditure had N361bn.
Johnson said: “We had the 5th council meeting of Rivers State. We deliberated on the Medium Term Expenditure Framework, which is usually a precursor to discussing the budget.
“An 83-page document was also presented, which has the budget estimate. The budget estimate for 2024 is N800 billion and it is tagged: “Budget of Renewed Hope, Consolidation and Continuity.
“Essentially, the budget is focused on some key areas with infrastructure taking the lead with N128bn of the budget followed by Education, health and security.”
The Secretary to the Rivers State Government (SSG), Dr. Tammy Danagogo, said the budget estimate was aimed at giving Rivers people a renewed hope that would guarantee projects and human capital development.
He said: “We approved an estimated budget of N800,392,485,433.33kobo, which we believe, by the time it gets to the state House of Assembly, the public will be made to see and understand all the projections and fundamentals.
“Basically, the essence of the budget is to give the people and residents of Rivers State the Renewed Hope and to ensure that there is a consolidation and continuity in what has been happening in terms of the harvest of projects we have been having in the State and of course other areas, particularly in human capital development, security, investment drive and ease of doing business.”