Governor Bassey Otu of Cross River State, South-South Nigeria has presented a budget estimate of Two Hundred and Fifty Billion Naira for the 2024 fiscal year.
Governor Otu who presented the budget before the State House of Assembly in Calabar, christened the 2024 Appropriation Bill as the “People’s First Budget”.
Giving a breakdown of the fiscal proposal, the Governor said that One Hundred and Fifty-Four Billion is earmarked for capital expenditure, while ninety-six-six billion Naira will go for recurrent expenditure, which represents 61.6 percent and 38.4 percent respectively.
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According to Cross River State helmsman, the projection in the estimate for 2024 fiscal year is inline with some Sustainable Development Goals numbers (2, 3, 4, 6, 8, 9, and 16), which address hunger, health, education, water and sanitation, industries, economic growth, peace, justice, and strong institutions.
He said the 2024 Budget places priority on the people first among other contending variables.
The Speaker of the Cross River State House of Assembly, Elvert Ayambem said he believes that the content of the budget will enhance the overall development of the State.
Editor: Ken Eseni
