Despite the protest and media frenzy by six Anti-Amaechi Lawmakers in Rivers State, 25 pro-Amaechi lawmakers, led by the Speaker, Otelemaba Dan Amachree, yesterday held a parliamentary sitting at the Rivers state government house and passed the state's 2014 budget into law.
The budget which was presented to the lawmakers by Governor Rotimi Amaechi was N4.797billion lower than last year’s N490.320 billion. The capital and recurrent provisions are N247.573 billion and N237.950 billion. The capital to recurrent ratio is 76:24 for the financial year 2014, as against 70:30 achieved as at September 2013.
The budget, according to Amaechi will be funded by the Federation Accounts Allocation Committee’s (FAAC’s) allocation of N241.243 billion and the Internally-Generated Revenue (IGR) of N92.420 billion.
Others include balance of N10.717 billion, proposed loans of N100 billion, credit from the World Bank of N6.983 billion, the European Union’s (EU’s) grant of N0.660 billion and the sale of assets of N33.5 billion.
The Ministry of Works has the highest allocation of N60 billion, followed by the Ministry of Education with N30 billion. The Rivers Urban Beautification, Parks and Gardens, as well as the Auditor-General (State), each has the lowest of 0.080 billion.
The grand total of the entire budget isN485.524 billion.
Meanwhile, Hon. kuinyi-Owaji Ibani, and Hon. Martins Amaewhule, both members of the Rivers state house of Assembly, faulted the budget Presentation saying the implementation would be legally prevented.
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