Sen Bassey Edet Otu, the Governor of Cross River State, had on Thursday, signed the revised 2023 appropriation bill into law.
The appropriation bill with 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) was a downward review from the previous budget size of N330 billion by the past administration.
Deputy Chief Press Secretary to the Governor Mr Edem Darlington reports that the essence of the downward review of the budget was to capture the true income indices and make the bill more realistic in line with current reality in Internally Generated Revenue as well as the monthly allocation from federation to the state.
Darlington, quoted the Governor as saying that the need to review the 2023 budget became expedient because of his government’s decision to work within a realistic financial framework.
According to him, the governor said “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.”
“It is the first bill I am signing into law in conformity with the People’s First agenda, collaborating with the House of Assembly we shall achieve the desired results,” he said.
Otu, commended the speaker and the house for the speed in passing the bill. He said “One of the most difficult bills to pass in the lagislature is the appropriation bill.”
The speaker, Rt. Hon. Elvert Ayambem while commending his colleagues for seeing that work on the budget was completed in record time, said that the budget was reviewed downward to enable government work with the state’s income revenue.
“The legislative bottlenecks were observed and all due processes strictly followed,” he said that the executive now has a good ground to take off.
“It is the most realistic budget in time past, the bill was reviewed in light of the state’s financial income, Cross Riverians will be happy with the size of this budget,” Ayambem said.
He promised the governor of the cooperation and collaboration of the House of Assembly in providing good governance to the State.