From Mike Odiegwu, Port Harcourt
Citing economic realities, occasioned by the Coronavirus pandemic, the Rivers State Executive Council has reduced the state’s 2020 Budget from N530.8billion to N300.4billion.
A statement by the Commissioner for Information and Communications, Paulinus Nsirim, on Thursday, said the budget was reduced by 48 per cent.
The statement said the decision was reached at the council meeting presided over by the Rivers State Governor, Nyesom Wike.
Read Also: Lagos cuts 2020 Budget by 21% to N920.5 billion
It quoted the Commissioner for Finance and Supervisory Commissioner for Budget and Economic Planning, Mr. Isaac Kamalu, as saying that the council also gave approval for the review of the 2020 Medium Term Expenditure Framework to accommodate the downsizing of the budget.
He explained that the decision was taken following consideration of all necessary parameters designed to offer the state purposeful service and effective leadership.
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