Ayade Presents 350 Billion 2016 Budget To State Assembly, Assures Of Actualizing His Dreams

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

By Archibong Jeremiah, House Of Assembly Correspondent

Governor Ayade presenting the 2016 budget to the Assembly this morning
Governor Ayade presenting the 2016 budget to the Assembly this morning

The Cross River State Governor, Senator Ben Ayade this morning presented the 2016 appropriation proposal to the State House of Assembly.

While presenting the budget, Ayade called it “Budget of Deep Vision” maintaining that “I inherited a rich State”.

According to the Governor, the budget is structured on a deliberate principle of capital/recurrent budget ration of 72%:28%.

“The opinion of this ration is that while the State is industrialized and developed the individuals will also feel the impact of governance.

“Consequently we have proposed a budget size of 350, 000,000,000.00 (three hundred and fifty billion naira) only.

“This represents an increase of 222,147,546,485.00 (Two hundred and twenty-four billion, one hundred and forty-seven million, five hundred and forty-six thousand, four hundred and eighty-five naira) only or 273.7%.

According to the breakdown of the figures, “Recurrent Revenue: Internal Source: N22,353,122,650.00 (Twenty-four billion, three hundred and fifty-three million, one hundred and twenty-two thousand, six hundred and fifty naira) only. Federal Sources: 43, 200, 730, 000.00 (Forty-three billion, two million, seven hundred and thirty thousand naira) only.

Capital receipts: 284,446,147,350.00 (two hundred and eighty-four billion, four hundred and forty-six million, one hundred and forty-seven thousand, three hundred and fifty) naira only.

Personal cost: 27,319,642,401.00 (twenty-seven billion, three hundred and nineteen million, six hundred and forty-two thousand, four hundred and one) naira only.

“Overhead Cost: N 13,842,254,841.00 (Thirteen billion, eight hundred and forty-two million, two hundred and fifty-four thousand, eight hundred and forty-one naira) only. Statutory Expenditure: N 14,252,443,841.00 (Fourteen billion, two hundred and fifty-two million, four hundred and forty-three thousand, eight hundred and forty-one naira) only”.

In addition, he elaborated on the sector specific budgetary allocation as follows: Economic: Total Recurrent Expenditure (N 14,867,064,396.00), Capital Expenditure (N 164,860,766,008.00), Total Budget (N 179,727,830,404.00) and Percentage (51.41%).

Social Services: Total Recurrent Expenditure (N 19,132,554,115.00), Capital Expenditure (N 33,876,739,914.00), Total Budget (N 53,009,294,029.00) and Percentage (15.21%).

Regional Development: Total Recurrent Expenditure (N 2,546,477,919.00), Capital Expenditure (N 50,897,097,853.00), total budget (N 53,443,575,772.00) and Percentage (15.31%).

General Administration: Total Recurrent Expenditure (N 18,868,244,212.00), Capital Expenditure (N 44,351,055,573.00), Total Budget (N 63,219,299,785.00) and Percentage (18.1%).

Total Outflow: Total Recurrent Expenditure (N 55,414,340,642.00), Capital Expenditure (N 294,585,659,358.00), Total Budget (N 350,000,000,000.00) and Percentage (100%).

Concluding, Governor Ayade asserted that “Despite the challenging financial and economic variables at this inauspicious times, let me assure you that we are not deterred from making our Deep Vision practicable and realistic”.

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.

CLICK HERE

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 CrossRiverWatch.com Today

You may also read!

JUNGLE JUSTICE: Suspected Robbers Burnt In Calabar

By Patrick Obia Two suspected armed robbers have been set ablaze in Calabar, the Cross River State Capital. The

Read More...

Ayade To Fix Bad Roads After CrossRiverWatch Report, Protests

By Jonathan Ugbal Cross River Governor, Benedict Ayade has directed “massive and comprehensive rehabilitation of roads” across the State

Read More...

Cross River Judges Should Refuse Accepting Acting CJ Positions – Fmr AG, Eyo Ekpo

By Jonathan Ugbal Mr. Eyo Ekpo, a former Attorney General and Justice Commissioner in Cross River has called on

Read More...

2 commentsOn Ayade Presents 350 Billion 2016 Budget To State Assembly, Assures Of Actualizing His Dreams

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu

Share this now