The Rivers House of Assembly on Friday handed the proposed N480 billion Appropriation Bill for the 2019 fiscal year made up of N157.12 billion recurrent expenditure and N323.28 capital expenditure.
The passage adopted the presentation of the report of the House Committee on Appropriation/Supply by the Chairman, Christian Ahiakwo, (PDP-Ogba/Egbema/Andoni) Constituency 1.
Sam Ogeh representing Emohua Constituency transfer the movement for the adoption of the report and was seconded by Adams Dima representing Okrika Constituency.
Following the third studying of the invoice and passage, the Speaker, Ikwunyi-awaji Ibani recommended the committee for its dedication and making certain correct examination of the proposed funds.
Mr Ibani mentioned the committee having studied extensively the provisions of the funds agreed that it was a balanced monetary doc for the year.
“In doing so, members of the committee highlighted the assorted sectoral allocations contained within the 2019 appropriation invoice.
“Some observations have been made within the course of and the committee agreed that the appropriation invoice as introduced by the governor was a balanced monetary doc, having considered the financial realities in Nigeria as we speak.
“They agreed that the forecast and projections made be considered, which is a bit of above N480bn as acceptable for the 2019 monetary year,” he mentioned.
The speaker additional famous that members of the home considered the report of the appropriation committee primarily based on funding, observations and suggestions of the committee.
Mr Ibani mentioned among the requests recognized by the committee confirmed that the estimated N480 billion could additionally maintain such requests throughout the implementation course of.