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:
*Capital expenditure (75.2%)
Mode of Generation of Revenue
*Federal Government’s Economic Recovery Fund
*Revenue from Investments
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.
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