Ayade signs N330 billion 2023 budget into law

Cross River State Governor, Professor Ben Ayade signed the state’s 2023 appropriation bill into law at the weekend. According to his custom, he named the N330.235 billion budget, “Quantum Infinitum”.

The signing ceremony which was held at the State Executive Council Chamber, had the Deputy Governor, Professor Evara Esu, the State’s Assembly Speaker, Eteng William Jones and other top government functionaries in attendance.

Speaking at the event, the governor said he recognised the absolute appropriation powers of the legislature, hence he was signing the budget for the good of the state.

“For the peace and love of Cross River State, the harmony that exists between the House and the Executive and a mark of respect for the power of appropriation that lies with the house, I hereby sign the 2023 appropriation bill into law, a budget otherwise christened Quantum Infinitum for the sum of N330.235 billion,” he said.

“This budget is now law in Cross River state. Congratulations to the people of Cross River state.”

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Ayade explained that the budget which is his last as governor, will enable his government to undertake some of the people-centered social welfare policies of his government within his remaining months in office such as the conditional cash transfer.

Earlier, the Speaker expressed gratitude to his colleagues for working assiduously to see that work on the budget was completed in record time.

He commended the governor for the harmonious working relationship existing between the Executive and the legislature.

While presenting the budget to the House in October, Ayade had stressed that “31 percent of the budget is for recurrent expenditure, which is N130 billion, while capital expenditure is taking 69 percent, and that is N200 billion to ‘kinetically crystalise’ projects.

“The 31 percent is for payment of salaries, gratuities, pensions and everything that will address issues of extreme poverty and criminality, creating a Cross River that is sane, which is the primary purpose of government. The budget will help my people survive during this difficult transition,” he said.

According to the governor, 69 per cent of the budget is intended to complete outstanding projects under his administration.