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BUDGET OF "CONJUGATED AGGLUTINATION" SCALES SECOND READING

 


By Itam Offor


The Cross River State Appropriation Bill 2022, christened the Budget of "Conjugated Agglutination", has scaled second reading on the flour of the Assembly.


The Bill, which has a budget size of N276,279,960,667.35 (Two hundred and seventy-six Billion, Two hundred and seventy  Nine million, Nine hundred and sixty Thousand, six hundred and sixty seven Naira, thirty-five Kobo, was subsequently committed to the House Committee on Finance and Appropriation for indepth study and further legislative process.


The Leader of the House, Rt. Hon. Peter Odey (Ogoja) had presented the highlights of the 2022 Budget Estimates and Appropriation Bill which was earlier presented to the House by the State Governor, Prof. Ben Ayade on Friday, 29th October 2021.


Odey stated that from the estimates, N92,007,302,780.40 representing 33.30% is to be spent on Recurrent Expenditure while N184,272,657,886.95 representing 66.69% is for capital Expenditure.


He added that Recurrent Revenue amounting to N102,654,642,620.19 includes proceeds from Statutory Allocation, VAT, IGR and other Federal Accounts while Capital receipts amounting to 165, 043,320,734.66 will be funded with, Grants of 25,000,924,951.22, Loans amounting to 131,053,384,183.40, and miscellaneous Receipts of 8,989,011,600.04.


In his remarks, the Chairman of the House Committee on Finance and Appropriation Hon. Sunday Achunekang (Obanlikwu) described the budget as reliable and achievable adding that it will address the economic realities of the State and help the Government record outstanding achievements.


Also Speaking, the Member representing Boki ll, Rt.Hon. Hilary Bisong, commended the Governor for the proposed rehabilitation of Rural Roads across his constituency which will benefits his constituents greatly.


The Lawmakers after concluding debate on the Bill, unanimously voted for it's second reading after which the Speaker, Rt. Hon. Eteng Jonah Williams committed it to the House Committee on Finance and Appropriation with a charge to report back in three weeks.

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