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RSG Plans 500,000 Jobs …As Wike Presents N530.8bn Budget

The Rivers State Government plans to create not less than 500,000 jobs for youths in 2020. Also, the sum of N5billion is set aside for new recruitments according to the “2020 Budget of Reassurance, Profound Impact for Inclusive Growth and Shared Prosperity” presented by Governor Nyesom Wike to the Rivers State House of Assembly.

Governor Wike said the total estimate of  N530,813,357,619.008bn is made up of N374,153,920,743.00 capital expenditure  N156,659,436,569.00 and recurrent expenditure.

The governor said the 2020 capital expenditure constitutes nearly 70% of the total budget.

The summary of sectoral allocations of the capital expenditure are as follows; administrative sector, N15.061bn, economic sector, N136.44bn, law and justice, N2.4bn, social sector, N138.55bn, special head, N57.36bn and loan repayments N24.32bn.

According to the governor, the substantial increase in capital over recurrent expenditure, underscored the government’s commitment to direct more resources to the growth and productive sectors of the economy.

Further breakdown of the budget estimate showed that N70.2bn was earmarked for salaries and wages, N8bn for the new minimum wage, N18.4bn for overheads, and N3bn as counterpart for pensions.

Also provided in the budget is N900million for death benefits, N33.176bn as monthly pensions and gratuities as well as N400million as counterpart contributions for donor programmes.

Ministry of Works got N93.9bn in the budget while Education got N49.7Bn.

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