Governor of Cross River State, Ben Ayade has presented before the state House of Assembly a budget proposal of ₦330bn for the 2023 fiscal year.
The governor said the budget titled ‘Budget of Quantum Infinitum’, was targeted at the citizens and to complete and commission all his projects.
Giving a breakdown of the budget, Ayade said the budget as follows, ₦130bn for recurrent expenditure which is 39% of the budget and ₦200bn for capital expenditure, which is 61% of the budget.
He said that the recurrent expenditure would accommodate the payment of salaries, gratuities and pensions and also cushion the effects of hardship and poverty in the state.
According to Ayade, “The capital expenditure will provide for the completion of all the projects that are yet to be completed in the state.
“This budget seeks to carry too many things given our commitment to sustaining the growth and development of the state.
“I wish to call on the Federal Government to support this budget and help us to complete our projects. Since the loss of Bakassi, the state has continued to suffer economic hardship”, he said.
He revealed that the budget has made provision for grants, conditional cash transfer and social comfort just the betterment of the people of Cross River state.
“There’s a provision for health insurance for those who are zero income earners. All of those massive aggregate provisions are to show that we focus on the people.
“In this budget, we have also made provision for conditional cash transfer of ₦5,000 to ₦10,000 to the rural dwellers. They need it the most because indeed we care about the people”
He revealed the sum of N5 billion was budgeted for security to provide vehicles and modern equipment for security agencies.