December 30, 2024
The governor of Rivers state, Siminalayi Fubara, on Monday, presented the 2025 budget proposal of N1.188 trillion to the Victor Oko-Jumbo-led Rivers House of Assembly.
The Speaker, Victor Oko-Jumbo had earlier read Governor Fubara’s letter requesting permission to present the appropriation bill on Monday to the four members House of Assembly at their plenary.
This marks Fubara’s second budget presentation since assuming office.
Themed “Budget of Inclusive growth and development, the proposal, according to the Governor is premised on Oil Price benchmark of $80 per barrel, Oil production rate of 1.8 million barrels per day, a N1500/$1 exchange rate and 22% inflation rate among others.
READ MORE; Full Text: Tinubu Presents 2025 budget
A breakdown of the figure shows that the recurrent expenditure is allocated the sum of Four Hundred and Sixty Two Billion,Two Hundred and Fifty Four Million,One Hundred and Fifty – Three Thousand, Four Hundred and Eighteen Naira, Ninety – Nine Kobo ( N462,254,153,418.98) while Capital expenditure will receive the sum of Six Hundred and Seventy – Eight Billion,Eighty- Eight Million, Four Hundred and Thirty – Three Thousand,Six Hundred and Ninety – Two Naira, Three Kobo ( N678,088,433,692.03
Recall, that governor Fubara had in 2023 presented the state appropriation bill of N800 billion for 2024 to a four-man House of Assembly then led by factional Speaker, Edison Ehie, who later resigned his membership of the assembly and was appointed chief of staff to the governor.
