Cross River To Spend N16.395 Billion On Debts Servicing In 2015

In Breaking News, Business & Economy, National News, Reports

By Sylvia Etta


The sum of sixteen billion, three Hundred and Ninety-five million, Two Hundred and Ten thousand, Two Hundred and Ninety-six naira only has been earmarked in the 2015 Cross River State appropriation bill to service debts.

The state governor, Senator Liyel Imoke, who gave this hint in his 2015 appropriation speech delivered before members of the State House of Assembly, Friday night, said that his administration shall partner with the National Debt Management Office, Abuja, and other International debt management groups to bring about sustainable debt profile as well as ensure compliant with International best practices.

“We shall partner with the National Debt Management Office (DMO) and other International debt management groups to maintain a sustainable debt profile and ensure that we comply with International best practices”.

On tourism sector, he disclosed that the sum of nine Hundred and Fifty-two million, Seven Hundred and Twenty-two Thousand, Six Hundred and Thirty seven, and Five kobo only is earmarked for the sector to consolidate on the gains already recorded.

“This is one sector where our inputs appeared to be most recognized. Tourism has become synonymous with Cross River State. This leadership has come with great responsibility; that of sustaining the facilities and momentum.

“We shall continue to initiate reforms that will allow the private sector take ownership of this industry so that the state can begin to reap bountiful benefits accruable from the sector”, Imoke asserted.

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