News Rivers

Gov Wike signs revised Appropriation Bill into law

By Ebi Perekeme

Governor Nyesom Wike of Rivers State has signed into law the revised 2020 Appropriation Bill. This followed the presentation of the budget by the Majority Leader of the state House of Assembly, Hon. Martin Amaewhule, to him at the government House, Port Harcourt.

Total figure of the revised budget for 2020 fiscal year signed by the governor is N300, 370,071,183.33.

It is a 48 percent reduction from the N530, 813,357,619.00 originally budgeted for spending.

Governor Wike said the unfortunate effect of the COVID-19 pandemic, partic­ularly in Nigeria, necessitat­ed the downward review of the budget.

The implication of the re­view of the budget, accord­ing to him, was that budget­ary allocations including capital and recurrent expen­diture had been reduced.

However, this, he said, would not affect the deliv­ery of quality developmen­tal projects and services to Rivers people.

“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.

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