Efio-Ita Nyok|1 November 2016
Yesterday 31st October, Cross River State Governor Benedict Ayade presented the 2017 budget of N301B to 8th Cross River State House of Assembly led by Rt. Hon. John Gaul Lebo.
Professor Ayade who presented the 2017 Appropriation Bill of N301 Billion to the state House of Assembly christened the proposal as “Budget of Infinite Transposition”. State House sources opines that His Excellency, seeks to achieve three cardinal objectives of “improving and expanding infrastructure through Public Private Partnership, planting the ‘tree’ of the state future revenue generation and gradual industrialization of the state.”
Breakdown of the budget are as follows: *Recurrent Expenditure:
N81,142,339,895.32 (24.8%)
*Capital expenditure (75.2%)
N220,060,873,053.48
Mode of Generation of Revenue
*IGR:
N81,142,339,895,32
*Statutory Allocation
N41,676,220,113.64
*Donor Agencies
76,070,524,023.85
*Federal Government’s Economic Recovery Fund
N38,474,892,065.29 and
*Revenue from Investments
N63,839,236,850.70
From the above analysis Ayade intends to fund the budget from Internally Generated Revenue (IGR), Statutory Allocation, Capital Receipts and Projected Investor Revenue from Direct Foreign Investments.
Efio-Ita Nyok
Is a Blogger, the Editor & Publisher of NegroidHaven.org
