OrderPaperToday – Gov. Ben Ayade of Cross River has presented the state’s 2016 appropriation bill to the House of Assembly to become the first state chief executive in the country to do so. Tagged “Budget of Deep Vision,” the 2016 budget is an astronomical increase of 273.7 percent over the 2015 appropriation bill.

The rise in projections according to the governor is based on expected funds inflow from Foreign Direct Investments (FDI) and external support his signature projects is hoped to receive especially from the Federal Government. He also spoke of revving up the Internally Generated Revenue (IGR) of the state.

“We have created 12 new ministries to help drive the much economic vitality of the state to a first class state,” he said, adding that “we also hope that these new ministries would create jobs for our teeming unemployed youths in the state.”

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A breakdown of the budget shows that the economic sector is allocated N179.7 billion, social services N53.01 billion, regional development N53.4 billion and general administration N63.2 billion representing 18.1 percent of the entire budget.

Speaker of the assembly, Mr John Gaul-Lebo used the opportunity of the governor’s budget presentation to inform of some of the achievements of the legislature including the passage of 9 bills since its inauguration in June.

Reported Oct. 26, 2015

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