Governor of Cross River State, Professor Ben Ayade has approved a budget of N330.235 billion for the year 2023 with the title— Quantum Infinitum.
Investors King reports that the governor signed into law the 2023 appropriation bill of the state over the weekend at the State Executive Council Chamber in Calabar.
In his speech during the signing ceremony, Governor Ayade noted that the budget signed was for the good of the state.
He pointed out that the budget, though his last as governor of the state, was well designed to provide the people of the state with more social welfare policies like the conditional cash transfer aimed at improving the lives of the people.
Ayade reiterated his decision to uphold the harmony that exists between the legislative and executive arms in the state.
His words, “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.
“This budget is now law in Cross River state. Congratulations to the people of Cross River state.”
Investors King recalls that in October, 2022 when the budget was presented by the governor at the State parliament, 31 percent of the budget is for recurrent expenditure, which is N130 billion, while capital expenditure is 69 percent, amounting to N200 billion for projects.
The recurrent expenditure includes payment of salaries, gratuities, pensions and matters involving the enhancement of the standard of living and reduction of crime rates. The recurrent expenditure of 69 percent is billed to cater for the completion of outstanding projects in his administration.
Earlier in his remarks, the State’s Assembly Speaker, Eteng William Jones, appreciated the parliament members for their commitment to the work in ensuring that the budget was completed in due time.
He applauded the governor for sustaining the cordial relationship and harmony between the executive and the legislative arms.