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Imoke Presents N149 Billion 2015 Budget

The Cross River State Governor, Senator Liyel Imoke, has presented a budget size of N149.442 billion naira tagged Budget of Progression, for the 2015 fiscal … Continue reading Imoke Presents N149 Billion 2015 Budget


Gov.-Liyel-Imoke5The Cross River State Governor, Senator Liyel Imoke, has presented a budget size of N149.442 billion naira tagged Budget of Progression, for the 2015 fiscal year to the state House of Assembly.

Presenting the budget to the state lawmakers, Imoke averred that, his administration would not only leverage on revenue sources to boost the state’s flagship of tourism and agriculture with emphasis on value chain addition, but would also create a conducive platform for the growth of Foreign Direct Investment (FDI) in all sectors of the economy.

According to him, the presentation which is the last by the present admiration represents a decrease of N26.87 billion over the 2014 appropriation.

He maintained that of this amount, 60 per cent or N91, 139,347,806.24, shall be committed to capital development, while 40 per cent or N58, 303,334,014.78 is expected to service recurrent bills.

A breakdown of the budget shows that under Recurrent Revenue, Internal Sources is put at N25.54 billion; Federal Sources is estimated at N43.05 billion, while Capital Receipts is projected at N80, 845,615,053.02.

In the estimate, Imoke noted that, recurrent expenditure of the budget is made up of Personnel Cost at N24, 974,329,536.98; Overhead Expenditure at N16, 187,160,047.55 and Statutory Expenditure projected at N17, 141,844,430.25.

He promised to ensure completion of all on-going projects to enable the next administration which will take over power come May 2015 take off on a clean slate.