Gov. Nyesom Wike of Rivers on Monday, in Port Harcourt, signed into law the revised 2020 Appropriation Bill.
The state signed the Bill on Monday following the presentation of the Budget to him by Mr Martin Amaewhule, the Majority Leader of the State House of Assembly, at Government House.
The total figure of the revised budget for 2020 fiscal year signed by the Governor is N300.3 billion (N300,370,071,183.33 Billion).
It is a 48 percent reduction from the N530.8 billion (N530,813,357,619.00 Billion) in the budget originally presented for the fiscal year.
According to the governor, the unfortunate effect of the COVID-19 pandemic, particularly in Nigeria, necessitated the review.
He said that the implication of the budget’s review was that budgetary allocations including capital and recurrent expenditure had been reduced.
He said that the review would not affect the delivery of quality developmental projects and services to the people of Rivers.
“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.
“By the revised budget, it means that so many things have to change. We have cut down the capital and recurrent expenditure to face the
“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 expenditure,
the overhead will no longer be the same,’’ he said.
The governor also restated his administration determination to ensure the reconstruction of the proposed Assembly Quarters.
“One thing I can assure you is that we are working with Julius Berger Nigeria PLC to reconstruct the Assembly Quarters. We want something that will stand the test of time.
“A good living environment and quality houses will enhance your input and services to our State,’’ Wike said.
The governor also promised to release the balance of funds for the 2018 constituency projects for the legislators.
Also speaking, the Majority Leader of the House, Mr. Martin Amaewhule said the Rivers state revised Appropriation Law No. 7 of 2020 is
intended to make provision of services to fall into current reality.
He said: “The House passed this Bill and it is intended to provide for a Law to revise the Rivers State Appropriation Law No. 12 of 2019 to make provision for services of Rivers State for the year ending December 31, 2020.’’
In his remarks, Speaker of the House, Mr. Ikuinyi-Owaji Ibani, stated that the governor had been implementing citizens’ friendly policies and programmes in Rivers.
He said the revised budget and revised medium term expenditure framework stipulated actions of government to better the fortunes of the state and establish enduring legacy for posterity.