• Friday, June 21, 2024
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Cross River State Assembly increases budget size to correct shortfalls

Police cordon off Cross River Assembly over plot eject impeached speaker

Eteng William, Chairman of the Cross River State Committee of the Whole House and Speaker of the Assembly has given reasons why the State budget size was increased from N276,279,960,667,35 as presented by governor Ben Ayade to N354,505,535,313,25

The Speaker who presided over the Committee of the Whole House after the budget passes the third reading stated that soon after the Governor presented the budget, TEDFUND, agreed to support the Cross River State Government with Funds amounting to #40billion to be directed at the following projects. Tertiary Cancer Research Centre, Tertiary Orthopedic Centre, University Library for British Canadian School, and Tertiary Tourism Centre.

According to the Speaker, approval for procurement of critical hospital equipment like Pet Scan Linear Accelerator and Cyclotron were received after the budget had been presented by the Governor.

Eteng also emphasized that the items will be bought at the current exchange rate which brought in an additional N4.5 billion.

“Finally, it was discovered that the initial provision of N14 billion was not enough for debt servicing and debt refinancing, additional N20 billion has therefore been used to augment this provision,” he stated.

Earlier the Chairman of the House Committee on Appropriation Sunday Achunekang while reading the report of the House Committee on Finance and Appropriation on the State Budget Estimate for 2022 said, “In view of the fact that the Governor’s presentations represent the first reading of the Bill, it was Scheduled and read the Second time on Thursday 25th November 2021 after a robust deliberation by members, the Bill was therefore referred to the Committee on Appropriation for detailed scrutiny and to report back within three weeks”

Achunekang said in all, Schedule 1 Personal and overhead cost stood at N11, 965, 354,107.96, Schedule 2 Capital expenditure, N225, 746, 261,606.98 while Statutory Expenditure was pegged at N9,802,919,600.31, bringing a grand total of the 2022 estimate to N354,505,535,313.25