Governor Ahmed Presents Kwara Budget 2016

Kwara Budget The Kwara State Governor, Abdulfatah Ahmed, has presented a budget estimate of 116,164, 043,000 naira to the state House of Assembly for the 2016 fiscal year.

The estimate is a decrease of over 1.5 billion naira over the 2015 revised appropriation which represents 1.3% decrease.

Out of the estimate, the budget is made up of recurrent expenditure of over 48 billion, over 10 billion naira for the public debt service while over 57 billion is earmarked for capital expenditure.

Tagged the budget of sustained expansion, the State Governor, Abdulfatah Ahmed, who laid the budget before the state lawmakers, said that the budget proposal was based on zero-budgeting approach for ministries, departments and agencies to justify all their expenditure needs in line with the prevailing economic situation in the country.

According to him, the total projected revenue estimate from all available sources to the state for 2016 fiscal year is over 116 billion naira.

Governor Ahmed also said that the 2016 Kwara budget holds great opportunity for the state and country, despite the challenges ahead.

He called on residents of the state to continue to cooperate with the government in its effort to elevate the state and contribute their quota to the development of the state.

China To Invest $10 Billion In Cross River

Ayade of Cross RiverThe Cross River State Governor, Ben Ayade, says arrangements have been concluded for Henan Province of China to commence construction of $10 Billion project in the state.

He gave the hint about the project agreement while addressing reporters at the Margaret Ekpo International Airport, Calabar on Thursday.

Governor Ayade said that the state would witness the arrival of 100 investors from Henan, who would set up various companies and industries in Cross River.

He also stated that the Henan Provincial Government would build a new China City in the state.

According to him, other team of investors would focus on various key projects, including huge agricultural investments, renewable energy, the garment factory, hydro power projects and the seaport.

Ayade further revealed that a logistic hub for the whole of Africa that would focus on the manufacturing sector would be established in the state.

He stressed that with the necessary arrangements on ground, his earlier budget of 350 billion Naira for the 2016 fiscal year would be surpassed.

Speaking about the Calabar Carnival, touted as the largest street party in Africa, the governor maintained that it would be awesome, filled with new excitement and a deepened content.

Cross River Governor Proposes 350bn Naira 2016 Budget

ayadeThe Governor of Cross River State, Ben Ayade, has proposed a budget of 350 billion Naira for the 2016 fiscal year.

Christened “Budget of Deep Vision”, the 2016 budget, which is Ayade’s first budget as Governor, represents 273.7 per cent increase over the 2015 appropriation bill of the immediate past administration.

According to Governor Ayade, the increment was as a result of expected funds from Foreign Direct Investments and support for his signature projects by the Federal Government.

According to the Governor, the economic sector is to be allocated 179.7 billion Naira, representing 51.41 per cent, Social Services 53.01 billion Naira, representing 15.21 per cent. Regional Development will also take 53.4 billion Naira, representing 15.31 per cent while General Administration will gulp 63.2 billion Naira, representing 18.1 per cent.

The budget was presented to the State House of Assembly in Calabar, the Cross River State capital, on Monday.

While presenting the budget, Governor Ayade disclosed that, on the direct benefit of the budget to the citizenry, his administration was committed to intensifying effort to meet its recurrent obligation by exploring the available vast potentials for Internally Generated Revenue (IGR).

The Governor added that in a quest to develop the state, his administration had tried to ensure that the public expenditure structure that prioritises a higher capital budget over recurrent would be maintained.

He explained that the 2016 budget was structured on deliberate principle of capital/recurrent budget ratio of 84 per cent to 16 per cent in order to meet the demands.