Cross River State Governor, Senator Bassey Otu, on Thursday, signed the revised 2023 appropriation bill into law in the realization of his people’s first agenda.
The appropriation bill has a total sum of two hundred and fifty billion, seven hundred and eighty-one million, fifteen thousand, six hundred and sixty one naira (N250, 781,015,661) a downward review from the previous budget of N330billion.
Speaking at the event in Calabar, Gov. Otu, said the need to review the 2023 budget became expedient because his government decided to work within a realistic financial framework of the State.
“let me start by thanking the speaker and the house for the speed in passing this bill. One of the most difficult bills to pass in the legislature is the appropriation bill.
“It is the first bill I am signing into law in conformity with the People’s First agenda, and collaborating with the House of Assembly we shall achieve the desired results.
“With the signing into law of this revised appropriation bill, Cross Riverians will start seeing the real dividends of democracy which will improve the fortunes of the state,” the governor said.
According to the Governor, the essence of the downward review of the budget is to capture the true income indices and make the bill more realistic in line with current realities in Internally Generated Revenue as well as the monthly allocation from the federation to the state.
Earlier, the speaker, Elvert Ayambem expressed gratitude to his colleagues for working assiduously to see that work on the budget was completed in record time.
According to the speaker, the budget was reviewed downward to enable the government to work with the state’s income revenue.
Assuring the governor of a harmonious working synergy between the legislature and the executive, the speaker said, “I want to assure you of the cooperation and collaboration of the House of Assembly in providing good governance to our dear State”
The 2023 appropriation bill which was signed by the immediate past administration had a total sum of Three Hundred and Thirty billion naira.
Written by: Elizabeth David
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