The Rivers State Governor, Mr. Rotimi Amaechi,
said on Thursday that the monthly federal
allocation to the state had been slashed by over
50 per cent as a result of the dwindling oil
prices.
Amaechi, who disclosed this during his New Year
message broadcast live, explained that his
administration would continue to review its
finances in order to cushion the negative impact
the reduction had on the people.
The governor said that apart from the reduction
in the state’s monthly allocation, the ceding of
oil wells in Soku and Etche to the neighbouring
states by the National Boundary Commission
had also affected the finances of the state.
Amaechi expressed sadness that there had been
no plan to return the lost oil wells to Rivers
State in spite of the evidences in favour of the
state. He, however, said that his administration
would not relent in its campaign for the return of
the oil wells.
The governor said that while his administration
inherited a monthly wage bill of about N2.5bn,
the Rivers State was now managing a wage bill
of about N9.2bn every month.
“We inherited a wage bill of about N2.5bn but we
now pay almost N9.2bn every month. We do not
regret the injection of needed manpower into the
system especially in the health and education
sectors for the sake of the future of this state,
but our monthly allocation has dropped by over
50 per cent.
“Our administration has been faced with the
battle of confronting the injustices that have
been visited on our people. Besides the denial of
economic opportunities, we have lost many of
our assets. Our oil wells in Soku and Etche have
been ceded to neighbouring states by the
National Boundary Commission, with no plan to
return them despite numerous evidences in our
favour.
“We will continue to demand for our rights as a
people because that is a debt that we owe you.
With oil prices crashing below budgeted levels,
the pressure on our finances is very high.
“Despite these, Rivers State is one of the few
states in Nigeria that have paid salaries up to
December 2014. We will continue to review our
finances and the options before us so as to
reduce the impact of these natural and man-
made pains inflicted on our people,” Amaechi
said.
Stating that his administration would review
some of its projects in the face of fresh financial
constraints, Amaechi promised that his
government would not only pursue these projects
and programmes, but would document them
properly for handover.
The governor said his administration had
embraced transparency with audited accounts
and open transactions. www.punchng.com/news/rivers-monthly-allocation-slashed-by-50/

Gej should be impeach oooo why is okonjo and his ministry staff slashing d allocation of various state .this is unfair.

Johnnyessence:
Gej should be impeach oooo why is okonjo and his ministry staff slashing d allocation of various state .this is unfair.

.

Primary school pupils have invaded Nairaland. Don't you know that oil price has fallen almost 50%?

Or you don't know that their allocation comes from oil proceeds.

Thk God d NLC knows FG is d one that's doing this slashing of salaries. this is unfair chaiiii.

Did they only "slashed" river state money??

This is just a bad way to attract your fellow APSHIT mental disabled to start insulting GEJ.

Isn't even better to stop sending money to someone who refer to fund an Islamic Party??

When Okonjo-Iweala warned this iddiot and his fellow dumb governors on their unnecessary spending, they almost ate her alive.
Now we're seeing the results. Dumb governors who lack foresight and are unable to see that oil will lose its value someday.

Amaechi good for you. Wasteful Mad Man. Hope you give up the $75 million jet.

Sunnybobo3:
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Primary school pupils have invaded Nairaland. Don't you know that oil price has fallen almost 50%?

Or you don't know that their allocation comes from oil proceeds.

Abegi jor even d removing of d oil subsidy what's d result of allocation of various state hmm.this reduction av been on for 3 yrs back but due to reduction of price of oil in international market that now make it so faster this is not fear from d federal government. they suppose to reduce d price of PMS in d oil market .

this is unfair from d federal government Cos' d much slashing of fees is more affected in d APC state this is not good at all.

Amaechi expressed sadness that there had been
no plan to return the lost oil wells to Rivers
State in spite of the evidences in favour of the
state. why is Fg treating Rivers state government like this hmmm.this is unfair.