John Ighodaro
19 November 2008
The Cross River State government has presented a budget of N106,654,410,387 for the year 2009 with the state governor Liyel Imoke explaining that "our policy thrust in 2009 is founded on our 7-point Development Agenda."
While presenting the 2009 budget to the State House of Assembly in Calabar, Cross River State, the Governor said, "given the anticipated low inflow of resources arising from the global financial crisis and the falling price of crude oil, we have no choice but to focus on our priorities and proposing what we can find.
"Consequently, we propose a budget size of N106,654,410,387. This represents an increase of 4% over the 2008 Budget. Our proposal is hinged on the following expected inflows: Estimated Recurrent Revenue of N59,740,236,821; representing an increase of N6,614,157,471 or 12% compared with 2008 budget figure of N53,126,079.351."
The Governor noted that "our Internally Generated Revenue (IGR) including ministerial revenue is expected to be N7,821,480,562. Statutory revenue from the Federation N51,918,756,259."
Imoke explained further that the proposed capital receipt is N52,478,655,834 representing an increase of N8,509,482,677 or 19%.
The capital receipts are made up of N18,903,676,354, which is the total for value added tax, joint state and local government accounts, capital reserve and a little flow from excess crude oil. Other capital receipts are inflows arising from International Development Support for various programmes including external funding for water and sanitation, and ecological funds.
While explaining that the policy thrust in 2009 is founded on his administration's 7-point Development
Agenda, he said it has to do with making Agriculture more productive and rewarding by encouraging the adoption of Agricultural best practices; developing an economically viable and self-sustaining tourism industry; expanding access to qualitative education and to provide our youth with relevant skills and knowledge; institutionalizing basic healthcare by providing an efficient Health Care delivery system.
The 7-point Agenda also includes encouraging and developing a strong private sector, building, upgrading and maintaining public infrastructures and ensuring the preservation of the physical environment through conservation and promotion of environmentally-friendly practices.
Of the total budget of #106,654,410,387, while the Economic Sector is expected to guzzle #46,345,121,517, Social Services would have #25,999,762,679.
While Regional Development gets 13,953,373,755, general administration would get #20,356,152,436.
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