Cross River State Governor, Professor Ben Ayade has presented a N1.3 trillion budget for the 2018 fiscal year to the State House of Assembly.

A breakdown of the budget dubbed: “Budget of Kinetic Crystallisation”, shows that 70 per cent of the budget is for capital expenditure while 30 percent is for recurrent expenditure.

The governor explained that the size of the budget is meant to create room for the warehousing of expected investors’ fund now that the actual construction of key projects of the administration such as the Bakassi Deep Seaport and the 274km superhighway has commenced.

“It is a budget that crystallises the depth of our vision into action in the year 2018. It is meant to draw the perspective of a humongous, large, ambitious budget. It is not enveloped by our purchasing capacity but by the capacity of our thought process. It is designed and tailored to fit our dream,”

He disclosed that the choice of a deficit budget rather than an envelop one is to allow for flexibility, as the state moves to actualise most of her deep visionary projects.

According to him, “Deficit budgeting focuses on what you intend to achieve, providing a warehouse mechanism that compensates for a sudden surplus. If such provisions are not met, if your budget is only limited by your pocket, you have kept aside the intellectual capital which is a core requirement in budgeting.

“The deficiency in the traditional budgeting has led to the continuous struggle and conflicts between budget and its implementation because the dependence on the midterm expenditure frame work or the strategy paper only allows you to focus based on your proposed income and expenditure, thus creating a misbalance, leading to a distortion of programmes.”

Read full details at: https://calabarreporters.com/30219/ayade-n1-3-trillion-budget

Ayade is beta dan PMB Ambode put together