Ben Ayade, Cross River governor, has presented a budget of N1.3 trillion for the 2018 fiscal year to the state house of assembly.
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, although the state has indicated its 2018 budget may also hit N1 trillion.
Presenting the proposed budget to the house on Thursday, Ayade said it was designed to add value to the socio-economic development and well being of the people of the state.
He also said the budget was meant to ‘crystallise’ what the state has 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, recurrent expenditure.
“The 2018 budget of N1.3 trillion, tagged `Kinetic Crystallisations’, is meant to drive the economy of the state to an enviable height,” he said.
“The sum of N126 billion was budgeted for the Ministry of Infrastructure. This is to help us develop critical assets in the state.
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Ayade presents N1.3trn budget for 2018 — highest ever by a Nigerian state
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, although the state has indicated its 2018 budget may also hit N1 trillion.
Presenting the proposed budget to the house on Thursday, Ayade said it was designed to add value to the socio-economic development and well being of the people of the state.
He also said the budget was meant to ‘crystallise’ what the state has 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, recurrent expenditure.
“The 2018 budget of N1.3 trillion, tagged `Kinetic Crystallisations’, is meant to drive the economy of the state to an enviable height,” he said.
“The sum of N126 billion was budgeted for the Ministry of Infrastructure. This is to help us develop critical assets in the state.
READ MORE
Ayade presents N1.3trn budget for 2018 — highest ever by a Nigerian state
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