SAN FRANCISCO, October 31, (THEWILL) – With just two months to the end of the year, Cross River State Governor, Senator Liyel Imoke late Friday night presented to the state House of Assembly for consideration and approval a budget estimate of N149, 442,681,821.02 (One Hundred and Forty-nine Billion, Four Hundred and Forty-two Million, Six Hundred and Eighty-one Thousand, Eight Hundred and Twenty-one naira, Two Kobo only), for the 2015 fiscal year.
The Governor urged the Assembly to pass the budget promptly to enable his government hit the ground early in the new year, as the tenure of the administration ends on May 29, 2015.
In his budget speech, the governor first gave an account of the performance of the 2014 budget, telling lawmakers that the “N173, 746,154,608.15 (One Hundred and Seventy-Three Billion, Seven Hundred and Forty-Six Million, One Hundred and Fifty-Four Thousand, Six Hundred and Eight naira, Fifteen kobo only), revised 2014 budget boosted agriculture, tourism and other sectors of the economy, which had direct bearing on infrastructural growth and job creation in the State.”
He said the N149, 442,681,821.02 proposed 2015 expenditure represents a decrease of N26.87 billion over the 2014 appropriation.
“Of this amount, 60% or N91, 139,347,806.24 (Ninety-one Billion, One Hundred and Thirty-nine Million, Three Hundred and Forty-seven Thousand, Eight Hundred and Six naira, Twenty-four Kobo) shall be committed to capital development, while 40% or N58, 303,334,014.78 (Fifty-eight Billion, Three Hundred and Three Million, Three Hundred and Thirty-four Thousand, Fourteen naira, Seventy-eight Kobo) is expected to service recurrent bills.”
The full text of the governor’s presentation obtained by THEWILL is reproduced below:
