The Rivers State Executive Council has approved the review of the 2020 Budget by 48 percent, in line with the present economic realities occasioned by the COVID-19 pandemic.
Addressing newsmen after the State Executive Council meeting on Wednesday presided over by the Governor, Nyesom Wike at the Government House, Port Harcourt , the State Commissioner for Finance and Supervisory Commissioner for Budget and Economic Planning, Mr. Isaac Kamalu, disclosed that the State’s 2020 Budget has been reviewed from N530,813,357,619.00 Billion to N300,370,071,183.00 Billion.
Mr. Kamalu stated that the State Executive Council also gave approval for the review of the 2020 Medium Term Expenditure Framework, accommodating a downsizing of the budget, pointing out that the decision was taken in consideration of all necessary parameters.
