By Archibong Jeremiah, House Of Assembly Correspondent
The Cross River State House of Assembly on Friday passed the 2015 Revised Budget into Law. This followed the consideration and deliberation of report of the House committee on Finance and Appropriation.
It will be recall that the State Governor, Senator Benedict Ayade had written to the State House of Assembly requesting for the revision of the 2015 Appropriation Law.
In a letter dated September 3, 2015 and addressed to the Speaker of the House, the governor requested for a revision of the 2015 budget by downsizing the budget from N152B to N127B.
Ayade further stated that the revised 2015 budget size of N127, 852,452,515.00 billion will not affect ongoing projects. He assured that the adjustment still accommodates the Signature Projects and programs for the economic and social development of the state.
In the revised budget proposal under Recurrent Expenditure, the budget maintained the 2015 Appropriation figures of N61, 114,765,805.00 Billion with Internal sources at N25, 046,053, 654.00Billion and Federal sources at N36, 068,712, 151.00Billion.
Personnel Cost is N25, 131, 748, 113.00 Billion as against 2015 approved budget of N25, 109,657, 537.00 Billion;
Overhead Cost in the revised budget is N16, 203, 584, 051.00 Billion, while the approved budget of 2015 is N16, 296, 080, 975.00 Billion.
N13, 801, 402, 314.00 Billion Statutory is under revised, while N13, 803, 370, 530.00 Billion is under the approved 2015 budget.
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