RIVERS State governor, Chibuike Amaechi, has presented a N427 billion budget estimates for the fiscal year 2012 to the State House of Assembly.The Speaker of the House of Assembly, Otelemaba Amachree, has tasked the governor not to embark on new projects and ensure the completion of ongoing onesIn the proposed 2012 appropriation bill christined 'budget for resource utilization', education, health, power and works were accorded highest priority areas of the administration.Amaechi, while presenting the budget, explained that budget has been limited by available resources.Though the budget is N11.9 billion higher than the budget of 2011(N415.1 billion), the governor said some debts needed to be incurred next year to complete critical projects that would contribute to the attainment of the state's objectives.According to him, the administration has made adequate plans to repay fully before the end of its tenure.'We expect to finance this N427 billion budget through federation account receipt of N238 billion; Internally Generates Revenue of N65 billion; payment due on recovered oil wells (N12 billion); unspent balance of N12 billion and proposed bond/loan of N100 billion' he said.He explained that the capital expenditure for 2012 is estimated at N314.27 billion against N268.76 billion in 2011-an increase of N43.51 billion or 16.18 per cent over that of 2011. The capital projection for 2012, the governor pointed out, amounts to 73.13 per cent of the total budget projection for the year 2012.In 2012, the governor told the lawmakers that the state is proposing to spend N112.73 billion for recurrent expenditure. This amount,he revealed, is N33.61 billion less than the 2011 recurrent expenditure appropriation of N146.34billion.Amaechi said the government is determined to ensure prudence in the running of bureaucracy and to make funds available for capital expenditure that would transform the state to the betterment of the citizenry.Education is expected to get a lion share of N71.5 billion; followed by health, N21.49 billion. N6.45 billion was budgeted for sports in 2012, while agriculture is to receive N3.03billion.Other critical sectors such as power was allocated N25 billion, while N60 billion and N10.5 billion are to be spent on road construction and transportation respectively, according to the governor.In 2011, the state government had budgeted N415.1 billion. This provision was expected to be financed from federation account of N205 billion, internally generated revenue of N78 billion, unspent balance of N32 billion and bond/loan of N100 billion.' Figures from January to September 2011 show that out of the revenue forecast of N283 billion for the entire year, we have actualised N235.27 billion, which represents 83.13 per cent of the revenue budget for the entire year. This is indeed remarkable because our average expected monthly revenue collection was N23.58 billion but in actual terms we realised on the average N26.14billion from January to September- an excess of N2.56 billion monthly' he said.Amaechi said the capital provision for 2011 was N268.76 billion. According to him, the actual capital spent up to the third quarter for the year 2011 amounted to N174.38 billion representing 64.88 per cent of the entire amount provided for in the year's budget.Amachree urged the governor to ensure the completion of all on going projects like the monorail in Port Harcourt before the end of his tenure. According to him, the people living around Ada George road, NTA road, Amadi 'Ama, Woji -Apkajo road states are really suffering, due to uncompleted road projects.'I like to re-emphasis that you should not embark on new projects but ensure that you focus on the completion of the ongoing projects like the Monorail.'Though you assured us during a meeting in Calabar, that you will complete it before the expiration of your tenure, so I am waiting for the day that project will be completed and I will be very happy. Some of my friends are saying that maybe its when your son grows up and becomes the governor of the state,he will complete the monorail project,' he said.
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