Law News
Rivers presents N335bn appropriation bill

GOVERNOR Rotimi Amaechi of Rivers State, yesterday, presented the state’s 2015 Appropriation Bill of N335 billion to the state House of Assembly for consideration.

The budget estimate of N335 billion is 31 percent lower than that of last year which was N485.524 billion.

Presenting the budget proposal at the auditorium of the old Government House, Amaichi said that his administration will no more embark on borrowing this year, since it was due to elapse in five months time.

He said the Appropriation Bill, which he tagged Budget of Completion, will focus on completion of ongoing projects.

Amaechi, who spoke on his achievements in the last seven years, said his successor would consolidate on the gains of his administration.

According to him, recurrent expenditure is N118.685 billion, while N216.315 billion is for capital expenditure.

“The policy thrust of the 2015 budget will be clearing the state’s debt stock; no commercial borrowing, commitment to aggressive and sustainable internal revenue; completion of all ongoing projects nearing completion and taking others to advanced level for completion by the in-coming government; sustenance of good governance through budget discipline, transparency and accountability in the utilisation of public funds and reforming and maintaining a robust public financial management structure, system and processes that bring about efficiency and effectiveness in the use of resources.

“In the next five months, my government will be coming to an end. We began this administration with the clear objective of delivering sustainable infrastructure to drive economic growth.

“Within this period, our commitment is to complete and put to use the first phase of the mono-rail project; 95 percent of the roads have been completed. In the remaining life of this administration, we shall be putting finishing touches to the road infrastructures in terms of beautification and provision of street lights,” he said.


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