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30 Nov 2017

Governor Ayade Breaks History, Pegs Cross River Budget At N1.3trn, Highest State Record

Governor Ben Ayade of Cross River on Thursday broke Nigeria's state budget record by presenting a whooping sum of N1.3 trillion for the 2018 fiscal year to the Cross River House of Assembly for deliberation and passage.
The News Agency of Nigeria reported that the budget is the largest for a single state in Nigeria’s history.

Lagos state held the record with its N812 billion budget for 2017. The state has indicated its 2018 budget may also hit N1 trillion.

Most states in Nigeria propose budgets at average N150 billion to N300 billion.

Govenor 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.

The governor said 70 per cent of the budget was for capital expenditure and 30 per cent,re-current expenditure.

Budget breakdown below:

- 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.

- N2 billion for school feeding programme. In addition to that, we also budgeted

- N52 billion for social welfare to care for the aged.

NAN reports that the 2018 budget is far higher than the 2017 budget of N301 billion.

Responding, the Speaker of the Assembly, John Gaul-Lebo, commended the governor for commencing work on the deep sea port and the super highway.

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