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From Judex Okoro, Calabar
Cross River Governor Bassey Otu has proposed the sum of two hundred and fifty billion as budgetry estimate for 2024 fiscal year, calling on citizens to brace up for more sacrifice.
Presenting the budget before the State House of Assembly on Thursday, Otu said the capital expenditure will gulp one hundred and fifty-four billion Naira q(N154,000,000,000) only while the sum of ninety-six billion naira only is proposed for recurrent expenditure.
Otu further said the 2024 projection in is aligned with some Sustainable Development Goals (SDGs) of the United Nations goals of zero hunger, good health and well-being, quality education, gender equality, clean water and sanitation, decent work and economic growth, industry, innovation and infrastructure and peace, justice and strong institution.
He acknowledged the world’s economic down turn; which Cross River State is not spared either, but promised to be prudent and prioritize resource allocation to meet the aforementioned goals.
He also promised to review the action plans of the predecessors by completing some priority projects already started and adding our innovative ones towards achieving an all-inclusive development of the state since government is a continuum.
He said the budget maintained a higher capital – recurrent expenditure of 61.6% to 38.4% because of the importance of structural development and to demonstrate the state’s commitment to the provision of the much needed infrastructural facilities in our rural and urban centres.
However, to be able to actualise the proposed development agenda based on the aforementioned-expenditure profile, Otu called on citizens to sacrifice by prompt payment of taxes and levies.
He added that the State Internal Revenue Service (SIRS) has been repositioned to ensure that every taxable adult is brought into the tax net even as IRS has increased ita revenue drive profile by 21%.
He revealed that in the 2024 fiscal year, the government is expecting the sum of One Hundred and thirty three billion three hundred million naira from the federation account (FAAC) while independent revenue is estimated at thirty five billion three hundred and twenty two million seven hundred and forty Seven thousand five hundred and ninety four naira.
