By Sylvia Akpan, Government House Correspondent
Details emerging from the Cross River State House of Assembly show that the Governor, Senator Bassey Otu has proposed NGN498 billion as the budget for the 2025 fiscal year.
A news brief shared with CrossRiverWatch by Matthew Okache, the spokesperson to the Speaker of the Assembly says NGN328 billion, or 66 percent is earmarked for capital expenditure while NGN170 billion is earmarked for recurrent expenditure.
Here is what you should know about the budget so far…
Tagged budget of Sustainable Growth, it is a 99.2 percent increase from the NGN250 billion the Governor tabled before the Assembly in October 2023.
READ: BREAKING: Governor Bassey Otu Presents 250 Billion 2024 ‘People’s First’ Budget To Assembly
However, upon assent, the figure had been revised upward to NGN296 billion by the Rt. Hon. Elvert Ayambed led the Assembly, an increase of 18.4 percent, which got stakeholders asking questions.
READ MORE: Experts Interrogate Cross River 2024 Budget
The budget estimate is also 13.95 percent higher than the supplementary budget, which zoomed through the Assembly within a week in July 2024.
READ ALSO: N437 Billion 2024 Supplementary Budget Zooms Through Cross River Assembly
More details later…
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