Ayade presents N1.3trn budget for 2018 fiscal year

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…Ministry of infrastructure gets N126b, social welfare N52b

The governor of Cross River State, Prof. Ben Ayade, has presented a budget proposal of N1.3 trillion for the 2018 fiscal year to the state house of assembly.

Presenting the budget christened ‘Budget of Kinetic Crystallisation’ in Calabar today the governor said the proposal was designed to add value to the socio-economic development and well being of the people of the state.

He explained that the budget was meant to crystallise what the state had achieved in the past two years of his administration.

He said the priority of the budget was to develop the state’s deep sea port and the super highway which he said were his two marked projects.

He disclosed that 70 per cent of the budget was for capital expenditure, 30 per centre-current expenditure stressing that “the size of the budget is expected to create room for potential investors, now that the annual construction of the state deep sea port and superhighway has commenced.”

Besides, Ayade said the budget was for actualisation and implementation of the state deep sea port, super highway and other laudable projects earmarked for completion.

“The 2018 budget of N13.trillion, tagged `Kinetic Crystallisations’, is meant to drive the economy of the state to an enviable height.

“The sum of N126 billion was budgeted for the ministry of infrastructure. This is to help us develop critical assets in the state.

“N7 billion was also budgeted for the state job centre with a view to helping us train our unemployed youths with marketable job skills.

“Also, we have budgeted N2 billion for our school feeding programme. In addition to that, we also budgeted N52 billion for social welfare to care for the aged.

“My administration is human friendly and my desire is to ensure that every family has what to eat before going to bed,’’ he said.

The governor further said the garment factory, with 1,000 workers, would be increased to 3,000 in 2018 as part of his administration’s drive to engage the unemployed in the state.

Responding, the Speaker of the Assembly, Mr. John Gaul-Lebo, commended the governor for commencing work on the deep sea port and the super highway. Gaul-Lebo said that the two projects, when completed, would attract more investors to the state and improve its revenue profile.

He assured the governor of the assembly’s continued support for the economic and political growth of the state.

 

 

 

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