Cross River Governor Presents 301 Billion Naira 2017 Budget To Assembly

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

By Ogar Monday; House of Assembly Correspondence

Cross section of Governor Ben Ayade, His Deputy Prof. Ivara Esu, the State Assembly Speaker Hon. John Gaul among others after the budget presentation
Cross section of Governor Ben Ayade, His Deputy Prof. Ivara Esu, the State Assembly Speaker Hon. John Gaul among others after the budget presentation

The Governor of Cross River State, Senator Ben Ayade has presented the 2017 appropriation budget before the Cross River State House of Assembly, at a seating held yesterday Monday 31st October 2016.

According to figures reeled out by the Governor, the expected Internally Generated Revenue of the Government is 81 billion, with expected Statutory allocation from the Federal Government projected at 41 billion, contributions from international donors 76 billion, funds expected from investors 63 billion and economic recovery program of the Federal Government expected to put in 38 billion.

On the expenditure side, Ayade stated that personnel cost is to gulp 56 billion in the year budgeted, overhead cost 17 billion and the capital expenditure is to stand at 226 billion.

In all, recurrent expenditure is to be 24.85% and capital expenditure stood at 75.2% of the total budget.

He further added that the size of the budget is not limited to the financial statues of the state but the goals and vision of those who man the affairs of Government.

Senator Ayade further reiterated his commitment to ensuring that his administration is properly positioning the state to “decouple” itself from Federal allocations and make the state self-sufficient and it is that dream that made him think of his signature projects.

Governor Ben Ayade of Cross River State placing the proposed 2017 budget before the House
Governor Ben Ayade of Cross River State placing the proposed 2017 budget before the House

On his part, the Speaker of the Cross River State House of Assembly, Hon. John Gaul Lebo stated that the synergy between the legislature and the executive under the dispensation is as a result of the shared goals between the arms of Government, assuring that the budget will be given expedient passage.

While responding, Leader of the House and member representing Obanliku State Constituency, Hon. Moses Ucheche said it is necessary for the MDA’s to cooperate with the budget office and ensure proper and effective budget implementation.

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