The Port Harcourt Chamber of Commerce, Industry, Mines, and Agriculture (PHCCIMA), led by Chinyere Nwoga, has reacted hailed the release of the Rivers State 2025 budget of N1.188trn saying it is interested in the emphasis on agriculture and economic revival.
Gov Sim Fubara had presented the Rivers State 2025 budget 24 hours to the end of the year, with focus on sustainable economic growth and accelerated development and citizens’ welfare. The budget is N388bn higher than the N800bn for 2024.
The governor had mentioned agric sector boost and empowerment as well as improving standard of living.
Reacting, the organized private sector (OPS), led by PHCCIMA said the 2025 Appropriation Bill of the Rivers State Government as just presented by the governor Sim Fubara is a welcome development for the business community and the people of Rivers State. “Budgets not only ensure balanced and strategic distribution of resources, they set the economic tone and agenda for the year.
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“The significant allocation to food security, education and health is commendable as they provide the springboard for economic growth.”
Nwoga said the private sector was thrilled by the recurrent/capital expenditure ratio of 44:56% which she said reemphasizes Rivers State’s commitment to infrastructural development, which she said is a fundamental for the growth of businesses.
“The budget is usually termed as ‘the moral document’, and as major players in the economic PHCCIMA Think-Tank will immediately begin to brainstorm on the content of the 2025 budget of Rivers State. The report will be shared with all government agencies, stakeholders, and partners. It is our hope that implementation would also be robustly carried out. We look forward to a prosperous 2025.”
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