BY UKET OKA, Calabar
Cross River State Governor, Prince Bassey Otu, has proposed to spend the sum of N250 billion for the 2024 fiscal year.
Presenting the budget estimate before the Cross River House of Assembly, Thursday in Calabar, the State capital, Otu, said the budget is christened “The People First Budget.”
The Governor explained that out of the N250 billion proposed, capital expenditure would gulp N154 billion, while N96 billion is estimated for recurrent expenditure.
He further noted that the budget was designed to consolidate on the gains of his predecessors as it also intended to improve on the welfare and wellbeing of the citizens and residents of the state being his first budget since assumption of office in May 29, 2023.
“We have prioritized a higher capital expenditure over recurrent expenditure in our public expenditure structure. This is a complete departure from the usual norm.
“As a deliberate principle, we have maintained a higher capital expenditure to recurrent expenditure of 61.6 % and 38.4%, respectively.
“This does not only emphasize the importance of structural development but also a demonstration of the state’s commitment to the provision of the much needed infrastructural facilities in our rural and urban cities,” the governor said.
The Governor also stated that the budget would target the completion of projects executed by his predecessors, payment of remuneratory obligations to both civil servants and retirees, grants, livelihood support, as well as vocational trainings /empowerment among many others.
On the funding of the budget, Otu informed that, apart from the monthly federal allocation and donor funds, “in order to actualize the proposed development agenda based on the aforementioned expenditure profile, we need to collectively make sacrifices in terms of payment of taxes and levies as at when due.”
“The State Internal Revenue Service has been repositioned to ensure that every taxable adult is brought into the tax net,” he assured.
The Governor emphasised his commitment to the socio-economic transformation of the people of Cross River State through agriculture as one priority area in the budget, Out maintained.
“We shall continue to leverage on the comparative advantage we enjoy in agriculture to create job opportunities in the agric value chain to reduce youth restiveness and create a harmonious society because if the youth population, if not fully engaged, is a time bomb waiting to detonate.
“Mechanized agriculture shall be pursued vigorously to ensure food sufficiency and zero hunger according to the Sustainable Development Goal Number Two of the United Nations,” Otu stated.
Other areas of priority of the include education, health, environment, infrastructure and youth development.
Earlier, the Speaker of the Cross River State House of Assembly (CRHA), Rt. Hon. Elvert Ayambem, commended the governor for keeping to the State’s fiscal law by presenting the budget before the October 31 deadline, and expressed the readiness of the lawmakers to continue to work for the speedy passage of the 2024 fiscal estimate.
Rt. Hon. Ayambem urged for legislative autonomy as it was urgent and would deepen democracy.
“The issue on the front burner is the much talked about legislative autonomy which has taken the centre stage in both national and international fora. As we are here today, the Parliamentary Staff Association of Nigeria (PASSAN), the umbrella union of the staff of the legislature, has declared industrial action with effect from November 2023, for failure of government to grant this autonomy. It is my hope that Your Excellency, in conjunction with his colleagues in other states, would look into this matter with a view to averting the strike action,” the Speaker stated.
