Cross River State governor, Bassey Otu, has signed the state’s 2024 budget into law. N296.985, 631, 978 is the budget figure, in a budget christened the ”Peoples First” budget.
A breakdown of the figure shows that the state’s economy tops the budget list with a whooping N104, 986, 870, 898.59 billion. General Administration has N95, 815, 641, 732.54 billion, Law and Justice: N7, 947, 139, 687.33 billion, Regional sector: N1, 262, 390, 126.52 billion, while the state’s Social sector will take up N86, 973, 489, 533.02 billion.
He maintained that his administration “is committed to prudent spending, effective governance, and unwavering dedication to the welfare of our people. Towards this end, I have directed that efforts be made to ensure the earlier submission of the 2024-2026 Medium-Term Expenditure Framework and Fiscal Strategy Paper.
“To achieve the laudable objectives of the 2024 Budget, we will further intensify our revenue mobilization efforts.”
The governor also informed at the budget signing ceremony that “there is an upscale budgetary provision for payment of gratuity, debt services, counterpart funds, nutrition activities, social protection, climate change and gender responsive budget.”
On the dwindling revenue inflow, he came clear that, “I am optimistic about our ability to finance the budget with creative funding options. We hope to surpass our revenue targets, therefore, revenue-generating agencies, and indeed all MDAs must ensure prompt and full remittances of collected revenues.”
