Rivers State Governor, Barr Nyesom Wike, presented the 2023 Appropriation Bill of N550.7bn tagged Budget of Consolidation and Continuity to the House of Assembly for consideration
Presenting the budget before the lawmakers on Tuesday in Port Harcourt, Wike explained that his administration projected ₦351bn as Capital Expenditure for the 2023 fiscal year.
In the 2023 budget proposal, Wike said his administration had also proposed a Recurrent Expenditure of N175.3bn, representing about 31 percent of the total budget for the 2023 fiscal year.
The Governor explained that in 2023 the State will spend N73.5bn on salaries of ministries, departments, and parastatals; N 7.8bb on new recruitment; N33.6 on monthly pensions as well as N12bn on gratuities and death benefits.
Wike said the fiscal year 2023 budget was targeted at delivering economic growth, additional infrastructure, and prosperity for citizens.