Governor Nyesom Wike of Rivers State has announced the recovery of about N1 billion by the Rivers Government in its ongoing staff verification.
Speaking at the first Port Harcourt Chamber of Commerce Business Luncheon in Port Harcourt, the state capital on Thursday, Wike said the recovery was achieved through the thoroughness of the verification.
Represented by his deputy, Dr Ipalibo Harry, the governor described the recovery as a good omen for the state, especially in the face of dwindling revenues.
He said that the government had also reduced its overhead expenditure to about 40 per cent as a way of adapting to the prevailing economic reality.
Wike further said that efforts were being made to enable the government to generate enough funds to address infrastructural challenges.
“We are working to generate internal funds so that we can effectively tackle infrastructural challenges in the areas of roads, hospitals and schools.
“Such move is in keeping with our promises of ensuring adequate social services and good governance for the people of the state”, he said.
Earlier, the President of the chamber, Dr Emi Membere-Otaji, described the country’s economy as ‘over stressed’ due to over dependence on oil.
Membere-Otaji said that there was need for governments at all levels to carry out massive investor-enlightenment to open up alternative areas of the economy.
“The over-dependence on oil and gas has taken the nation backward and left the citizenry impoverished.
“The time to act is now; the citizenry and the investing public must have the enabling environment to venture into other investible areas”, he said.