By Jonathan Ugbal
The Cross River State House of Assembly has passed an amendment to the 2023 Appropriation law of the State with Governor Bassey Otu expected to assent to it as soon as possible.
It is unclear at the moment when the revised budget was presented before the House.
But, sources have reliably informed CrossRiverWatch that the revised budget is NGN251,642,615,961.
That represents an almost 24 percent drop from the NGN330 billion presented by former Governor Benedict Ayade to the 9th House of Assembly which was passed and assented to in December 2022.
Also, details obtained show that NGN116,744,824,545 or 46.4 percent is earmarked for recurrent expenditure while the capital component is NGN134,897,791,415.88 or 53.6 percent of the amended budget.
More details later…