The Administrator of Rivers state, Ibok-Ete Ibas, has presented the N1 48trillion budget proposal to the ad hoc committee of the House of Representatives on state of emergency rule.
He alleges sabotage by some unnamed officials in the expenditure of the state in 2024.
The proposed 2025 budget aligns with the strategic objectives in the River State ten-year Development Plan 2017-2027.
A breakdown of the proposed budget shows that N324.5 billion is allocated to critical infrastructure, N117 billion is for pensions, gratuities, and employee benefits, N5b for Drug Revolving Fund and N20 billion to recapitalise the State Microfinance Bank
The ad hoc committee promises to do due diligence as it continues with legislative work on the fiscal document.
