Governor Ayade budgets N1.3trillion for 2018 | Nigeria Newspaper- Nigeria News| Naija News

30.11.17

Governor Ayade budgets N1.3trillion for 2018

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Ayade budgets N1.3tr for 2018
Governor Ben Ayade of Cross River State has presented a budget estimate of N1.3 trillion for the 2018 fiscal year.
The 2018 budget estimate is far higher than the 2017 budget of N301 billion.
Our of the total sum, 70 per cent of the budget is for capital expenditure, while 30 is for re-current expenditure.
Presenting the budget before the House of Assembly, on Thursday, in Calabar, Governor Ayade said it was designed to add value to the socio-economic development and well being of all Cross River people.
He said the budget, tagged the budget `Budget of Kinetic Crystalisation’, is meant to crystalise what the state had achieved in the past two years of his administration.
The governor said that the priority of the budget was to develop the state deep sea port and the super highway which are his two signature projects.
He also explained that the size of them budget was big because the state is creating room to warehouse the expected investors’ funds now that actual construction work has started at Super highway and deep sea port.
His words, “The sum of N126 billion has been budgeted for the ministry of infrastructure. This is to help us develop critical asset in the state.
“N7 billion has been budgeted for the state job centre with a view to help us train our unemployed youths with marketable job skills.
“Also, we have budgeted the sum of N2 billion for our school feeding programme just as N52b has been budgeted for Social Welfare especially to take care of the aged.
“My administration is human friendly and my desire is to ensure that every family have what to eat before going to bed’’, he said.
The governor further said that the garment factory, which currently has 1,000 workers, would increase to 3,000 in 2018 as part of his drive to engage the unemployed in the state.
Speaking on the budget, Speaker of the Assembly, Mr. John Gaul-Lebo, commended the governor for commencing work on the deep sea port and the super highway.
Gaul-Lebo said that the two projects when completed, would attract more investors to the state, thus improving its revenue profile.

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