Governor Nyesom Wike of Rivers State has presented a budget of N483,173,307,96 to the state House of Assembly for the 2022 financial year.
The governor presented the appropriation bill, tagged “Budget of Consolidation”, before the Rivers State House of Assembly on Friday.
According to the Governor, the sum of N314, 903, 108,116 is earmarked for capital expenditure representing 70 percent of the total budget estimate while N114, 764, 818, 977 for recurrent expenditure represents 30%.
Further breakdown of the capital expenditure indicates that administrative sector will gulp over N104 billion economic sector about N127 billion, law and justice N4 billion while the social sector will gulp over N79 billion.
In the recurrent expenditure; salaries and wages will cost over N77 billion while new recruitment will cost about N1 billion.