Gov. Ben Ayade of Cross River has presented a budget of N1.3 trillion for the 2018 fiscal year to the Cross River House of Assembly for deliberation and passage.

Ayade, who presented the budget on Thursday in Calabar, said that the proposal was designed to add value to the socio-economic development and well being of the people of the state.

Ayade, who tagged the budget as “Budget of Kinetic Crystallisation’’, said it was meant to crystallise what the state had achieved in the past two years of his administration.

He said that 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.
The governor said that 70 per cent of the budget was for capital expenditure and 30 per cent,re-current expenditure.
According to him, 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.
He added that 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 N126billion 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 N2billion for our school feeding programme. In addition to that, we also budgeted N52billion 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 that the garment factory, with 1,000 workers, would be increased to 3,000 in 2018 as part of his administration’sdrive to engage the unemployed in the state.
NAN reports that the 2018 budget is far higher than the 2017 budget of N301billion.
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.

http://www.akelicious.com/2017/11/gov-ayade-presents-n13trn-budget-for.html

1.3 what? Where will he get the money to implement the budget?

Ambode's record have been broken...with 'Kinetic Crystallisations Budget'

Clowns everywhere! Why not 13Trillion Naira?

This is crystallization of Madness!

Anyway, anything goes in Cross River State...Is it not the same Man with 1,500 Special Advisers? No surprises!

Ambode need to aim higher next time

NigerDeltan:


Clown?

Honestly you are an illiterate

How will he fund the budget?

seunmsg:


How will he fund the budget?

Until you show me your comment on the Buhari's 8tr budget, I reserve mine

This getting interesting. Debt profiles are on raise. Anyway this story needs details.

Blue3k:
This getting interesting. Debt profiles are on raise. Anyway this story needs details.

My brother the truth is that if we have a sincere leader who will use the money properly there is absolutely nothing wrong with borrowing

America is owing more than any other country, yet we are the one that need development more than them

.

Seriously though, how does he intend to fund this budget?

Blue3k:
This getting interesting. Debt profiles are on raise. Anyway this story needs details.

Another fantasy.
Not going to happen

NigerDeltan:


My brother the truth is that if we have a sincere leader who will use the money properly there is absolutely nothing wrong with borrowing

America is owing more than any other country, yet we are the one that need development more than them

Borrowing doesn't bother me too much. Everyone knows the budgets in Nigeria are terribly low for an economy it's size. The only principles to borrowing is having good debt to revenue. Spending the cash on capital projects that can increase future revenue. Then lastly implementing budget well.

The only issue is first requirement I listed. Cross River already has bad debt sustainability index score. This would only make it abysmal.

He added that the budget was for actualisation and implementation of the state deep sea port, super highway and other laudable projects earmarked for completion.

Again has this guy successfully completed an EIA report for super highway. The port has approval.

There is not an infinite supply of money to be borrowed.
Lenders are not stupid.
They must consider the ability to pay back or demand the loan is guaranteed or secured against assets.

a state with a 300 billion budget for last year suddenly budgets 1.3 trillion? and we just assume lenders are queueing up to lend to them[i][/i][/i][i][/i][i]

aribisala0:
Another fantasy.
Not going to happen

Yawn SW obsessions. You're as lame as SE people in Osun threads.

Sounds incredibly over ambitious to me. I would like to read about the revenue sources for such budget. Lagos state is, probably, the only viable state (at the moment) capable of a N1Trillion budget.

Criminal. May be he wants to sell the state

whatt?

When I saw 1.3Trillion, I first thought it was a mistake, not until I saw the title of the budget - Kinetic Crystallization!

1.3 Trillion??...kinetic crystallization??...seems this guy has finally lost it...well until we see the breakdown of proposed expenditure...

NgeneUkwenu:
Clowns everywhere! Why not 13Trillion Naira?

This is crystallization of Madness!

Anyway, anything goes in Cross River State...Is it not the same Man with 1,500 Special Advisers? No surprises!

Buhari sent 8 trillion to the senate you were dumb suddenly you now got your voice

Not long ago... Nigeria used to have a 5 trillion naira budget....

How the mighty has fallen

That is too much to implement