Gov. Wike presents 2023 budget of N550.6bn to Rivers House of Assembly

user_icon Gov. Wike presents 2023 budget of N550.6bn to Rivers House of Assembly Posted by: NOTICE.COM.NG Staff
calendar-icon Gov. Wike presents 2023 budget of N550.6bn to Rivers House of Assembly Posted on: 2022-11-22 17:26:35
Gov. Wike presents 2023 budget of N550.6bn to Rivers House of Assembly WIKE-POLITICS72694



Rivers Governor Nyesom Wike on Tuesday presented the 2023 Appropriation Bill before the Rivers State House of Assembly.

The Governor presented a budget estimate of N550,666, 987, 238 for consideration by the House.

The recurrent expenditure of N175, 249, 692, 497 representing about 31% of the entire budget was proposed.

DO YOU KNOW >>> itel donates libraries, school books, other items in Lagos for Christmas - Love Always On

For the capital expenditure, N350, 977, 495, 537 was proposed by the governor which represents 63.2% of the entire budget.

According to Governor Wike: "The 2023 budget is constructed within the framework of the state Medium Term Expenditure Framework, the state Economic Strategic Paper, the national economic outlook and the state economic growth projection.

“It anchors on the following key assumptions: crude oil price benchmark of $70/barrel, national crude oil production estimate of 1.5 million barrels per day, currency exchange rate of N435.67 to the dollar, national Gross Domestic Product growth rate of 10%, an inflation rate of 13.1% and state economic growth projection of between of between 4.5% and 5%."

READ ALSO >>> Stop plans to borrow N10.57trn to fund deficit – LCCI warns FG - 2023 budget

The governor also disclosed that the revenue realized in the 2022 budget was deployed for salaries, general administrations for recurrent expenditure and several projects for capital expenditure.

The budget was tagged the "Budget of Consolidation and Continuity."


READ ALSO >>> Rivers APC calls for suspension of Oshiomole, Umahi for anti-party activities

READ ALSO >>> Wike honours Rivers United players, officials for title success - NPFL

WATCH >>> Download Nollywood Movie: Selina Tested (Episode 28, Endgame B) FINAL

WATCH >>> Peter Obi Net Worth 2022, Biography, Cars And Houses

WATCH >>> Obi Cubana and E money Net Worth 2022s & Cars - Who is richer?

BREAKING >>> Asamoah Gyang reacts as Suarez refuses to apologize to Ghana - World Cup

LISTEN TO >>> Music Mp3: Waje Ft Tiwa Savage - All Day

READ ALSO >>> Download Music Video: Afrobeat Christmas (Prod By Skimzea)


For All Nigeria Past Questions Visit www.QUESTION.NG

Kindly share this post on different Social Media below


Tags:


COMMENTS

NOTE: User comments in this section are, as the name implies, provided by users of this website. The question.ng team is not responsible for, nor do they endorse, any of the information provided here.


NO POSTED COMMENT