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From Aniekan Aniekan, Calabar
The Cross River State House of Assembly has passed a new 2025 supplementary budget for the state amounting to N642,160,260,164.66.
With this, the assembly has increased this year’s budget by about 26 percent which amounts to N143 billion.
The 2025 appropriation bill, tagged, ‘Budget of Sustainable Growth,’ was passed into law in December 2024, with an approved budget size of N538,523,915,716.00.
Details of the new supplementary law shows a variance of N142.031,303,572.79 or 26 percent increase over the originally approved budget.
Okon Nyong Owuna, chairman of the assembly’s finance and appropriation committee, who presented the report stated that the supplementary budget became necessary to accommodate several critical expenditures that were not originally captured in the 2025 budget.
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“The key factors necessitating the supplementary budget include new obligations and emergency spending not captured in the original budget.
“These include recently approved strategic programmes requiring immediate financial backing and improved outlook from the Internally Generated Revenue (IGR), internal grants and allocations from FAAC.
“These developments have provided the fiscal space to introduce additional expenditure across critical sectors,” he said.
They also disclosed that the supplementary budget introduced an upward adjustment across sectors like administration, economic, law and justice, regional and social development, adding that the budget would be financed from the IGR, Aids and Grants and Federal Account Allocation Committee (FAAC). Speaker of the Assembly, Elvert Ayambem, reiterated that the supplementary budget was for the welfare of citizens.
He added that projects in all the local government areas had been duly captured with a view to transforming the state.
