Rivers State Governor Nyesom Wike[/caption]Governor Nyesom Wike has said that the state’s 2017 Budget recorded 74 per cent performance, representing significant improvement on that of 2016.
Wike said that aggregate revenue receipts as at December 31, 2017 stood at N278.2 billion, representing only 69 per cent of total projected revenue.
“This left us with a shortfall of over N192 billion in spite of the sharp shortfalls in revenue receipts.
“We resisted the temptations of funding the budget through borrowing.
“This is because it will make no economic sense to spend more than what we earned and plunge the state into unnecessary debts,’’ he said.
He said the government spent N64 billion on payment of salaries; N12.5 billion on overhead and N10 billion on pensions.
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