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Imoke Signs Supplementary Budget

Posted by By Emma Una /Calabar on 2008/10/18 | Views: 1557 |

Imoke Signs Supplementary Budget

Governor Liyel Imoke of Cross River state has signed the 2008 Appropriation Bill into law.

Governor Liyel Imoke of Cross River state has signed the 2008 Appropriation Bill into law.

The Special Adviser Budget/Monitoring and Evaluation, Dr. Peter Oti, said the budget increased from N83,321,909,860 to N102,208,129,970 representing a net increase of N18,888,220,110.

According to Oti, the emphasis in the supplementary budget is to apply anticipated inflow of resources to the state’s development programmes, explaining that the increase in capital expenditure is 72 per cent of the supplementary budget.

He said the supplementary capital expenditure distribution is broken into Economic Sector N9,883,946,120, Social Services N1,291,822,080, Regional Development N156,153,340 and General Administration N2,573,949,270.

Explaining further, Oti said the additional Capital requirement when netted against savings of N2,183,649,060 leaves a funding commitment of N11,722,221,750 while the net supplementary recurrent commitment is N7,163,998,360, adding that the main issues addressed by the supplementary budget regarding recurrent expenditures are the clinical practice allowance intended to bridge the gap between medical doctors in the employ of the state and their federal counterparts.

He disclosed that teachers in the state also have cause to smile as a 27.5 per cent increase over their previous pay packet has been approved.

Oti stated that government is determined to apply available resources at its disposal to implement its development agenda targeted at wealth creation and infrastructural development to bring about improved living conditions for the people.

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