Governor of Cross River State, Prof. Ben Ayade, flanked (L) his Deputy, Professor Ivara Esu, Deputy Speaker CRHA/Member representing Calabar II state constituency, Mr. Joseph Bassey, (3rd from R) the Speaker Cross River House of Assembly, Rt. Hon. John Gaul-Lebo and Clerk of the House, Mr. Bassey Ekpeyong (1st from right) with other elected Members of the state Assembly shortly after the 2016 “BUDGET OF DEEP VISION” presentation by the Governor. Calabar.
From: Diana Okon-Effiong, Calabar
Cross River State governor, Senator Ben Ayade has proposed a budget of N350 billion for the 2016 fiscal year.
Christened “Budget of Deep Vision”, the 2016, which is Ayade’s first budget as governor represents 273.7% increase over the 2015 appropriation bill of the immediate past administration.
Ayade said that the reason for the astronomical increment is as a result of expected funds from Foreign Direct Investment and support for his signature projects by the Federal Government, pointing out that, “Our rare moment of hope is born.”
According to the governor, Economic sector is to be allocated N179,727,830,404.00 representing 51.41%, Social Services:N53,009,294,029.00 representing 15.21%; Regional Development will take N53,443,575,772.00, representing 15.31%, while General Administration will gulf N63,219,299,785.00 representing 18.1%.
Speaking at the presentation of the budget before the State House of Assembly on Monday,Ayade said: “In a quest to develop the state, we have tried to ensure that the public expenditure structure that prioritizes a higher capital budget over recurrent is maintained.
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