Assembly Passes Cross River State Infrastructural Fund Law 2015

In Breaking News, National News, Politics, Reports

By Archibong Jeremiah, House Of Assembly Correspondent

The House of Assembly in plenary yesterday
The House of Assembly in plenary yesterday

The Cross River State House of Assembly yesterday enacted the “Cross River State Infrastructural Fund Law, 2015.”

The law was enacted by unanimous vote after the bill, sponsored by Hon. Simon Nkoro Egbong representing Ikom 2 state constituency, passed the third reading following its submission to plenary by the House Committee on Finance and Appropriation, chaired by Hon. Eteng Jonah Williams, member representing Yakurr 2 state constituency.

The law has four parts and is aimed at the development of infrastructure and industries in the State.

The law empowers the government to draw funding for the development of infrastructure in the state from, “Investment funds from Donor Agencies and Development Partners, 4% from all Federal sources/accruals to the state, 4% contribution of the Cross River State Local Government Joint Account, 2% contribution from all companies and contractors awarded jobs in the state or who have come to partner with the state to carry out any project, contributions by way of cooperate social responsibility and from any other source”.

The funding is to be managed by the Cross River State Infrastructure Fund Committee.

Furthermore, the law states that the committee shall keep and operate a bank account in a reputable bank approved by the Accountant General of the state. Membership of the committee shall be on part time basis and members of the fund committee shall be paid allowances as are applicable in the State Public Service.

The bill now awaits the accent of the State governor.

Since You Are Here, Support Good Journalism

CrossRiverWatch was founded on the ideals of deploying tech tools to report in an ethical manner, news, views and analysis with a narrative that ensures transparency in governance, a good society and an accountable democracy.

Everyone appreciates good journalism but it costs a lot of money. Nonetheless, it cannot be sacrificed on the altar of news commercialisation.

Consider making a modest contribution to support CrossRiverWatch's journalism of credibility and integrity in order to ensure that all have continuous free access to our noble endeavor.


New Feature: Don't miss any of our news again.Get all our articles in your facebook chat box.Click the Facebook Messenger Icon below to subscribe now

Text Advert by CRWatch :Place Yours

Will You To Learn How To Make Millions Of Naira Making Special Creams From Your Kitchen?.Click Here

Expose Your Business And Make More Sales. Advertise On Today

You may also read!

Cally Air: Cross River Announces Recruitment For 22 Positions

By CrossRiverWatch Admin The Cross River State government has announced that it is hiring for 22 different roles in


Ayade, Esu Visit As Ukpo’s Roll Out Obsequies For Three Family Members Lost Within 13 Days

By Ushang Ewa Governor Ben Ayade of Cross River on Monday visited the family of the late former military


BREAKING: Lagos Bound Passengers Stranded In Calabar As Aero Cally Fails To Land

By Jonathan Ugbal Lagos bound passengers of Aero Cally are currently stranded at the Margaret Ekpo International Airport in


Leave a reply:

Your email address will not be published.

Mobile Sliding Menu

Share this now