Ayade signs N1.1 trillion 2020 appropriation bill into law


Cross River State Governor, Professor Ben Ayade Tuesday signed the the state's 2020 appropriation bill into law.

Ayade commended the state House of Assembly for beating the deadline of passing the appropriation bill before the 31st December 2019.

Christened "Budget of Olimpotic Merismasis", the #1.1trillion budget is geared towards bringing to fruition, the signature projects of the administration, including the 270 kilometre superhighway connecting Cross River with Northern Nigeria.

82 percent of the budget is for capital expenditure while 18 percent is for recurrent expenditure.

According to Ayade: "Cross River is the first state in the history of Nigeria to present a budget of over a trillion Naira.The first time in the history of Nigeria that a state, a sub national has presented a budget in the neigbhourhood of over a trillion Naira.

"There are two types of budgeting. Either you do deficiet budgeting or you do envelope budgeting.

In envelope budgetting, if you look at your medium term expenditure framework, you budget according to your expectation which is an agenda informed by how much you intend to achieve. Nobody has asked how Cross River which gets the lowest allocation in the country and services debt in the neighourhood of #1.8 billion manages to pay teachers, civil servants, pensioners."

Continuing, the governor emphasised that Cross River was able to achieve its objectives "because the deficiency is compromised with intellectual money."

"At any point in time a man's ability is limited by his financial muscle his brain has failed", Professor Ayade said.

According to him, "for us in Cross River, with governor and his deputy as Professors, it will be a thing of shame for us to budget based on our envelope size".

Enumerating the avalanche of industries he has established since assumption of office, the governor assured that the 2020 budget will create jobs for Cross Riverians.

"In the 2020 appropriation bill I have just signed into law, we have developed factories that have matured to a point where you need only operating capital to have them start commercial production. It will be the end of suffering in Cross River.

"Cross River state has 33 industries in four years and you can point at them. So, I want to assure all of you that this budget of N1.1 trillion is something we can achieve, something we can accomplish"

Earlier, the Speaker of the State House of Assembly, Jones Eteng Williams, while presenting the budget to the governor for signing said the House will vigorously carry out oversight functions on the ministries, saying, " the appropriation bill is like a Bible for us because it's the document we work with. We don't have any other document"

Christened "Budget of Olimpotic Merismasis", the #1.1trillion budget is geared towards bringing to fruition, the signature projects of the administration, including the 270 kilometre superhighway connecting Cross River with Northern Nigeria.
Governor Ayade is a comedian. That man knows nothing about governance,the same super high way that has been abandoned for years. Pls which single road in Cross River has this man completed! No vision,stop deceiving yourself Mr professor and release the innocent journalist in prison. You are the worst Governor in the whole Africa

Another state joins Lagos in the trillion Naira league. After it all the masses will still find it difficult to point to what the trillions were used for.

Useless short clown, calabar guys cant hide their shame

half a trillion will go into oblivion after 2020

GreyLaw:
Another state joins Lagos in the trillion Naira league. After it all the masses will still find it difficult to point to what the trillions were used for.

This one thinks budget means the money is available

Cross river don't generate upto 100bn per year self

hmmm

https://www.youtube.com/watch?v=HGUvkp7ZS1I

82 percent of the budget is for capital expenditure while 18 percent is for recurrent expenditure.

..Baba wan cash out big this year. Its 2020 for God's sake. Go big or go home

The most unrealistic governor I have ever seen. Clown extraordinary. Another failure of a youthful governor.

Wonder where this idiot would get the source to fund the budget.

Ayade is not serious. Budget of Olimpotic Merismasis indeed!

Imagine

82 percent of the budget is for capital expenditure while 18 percent is for recurrent expenditure.

I don't think this man will pay minimum wage.

chukel:
The most unrealistic governor I have ever seen. Clown extraordinary. Another failure of a youthful governor.

He is a complete failure.

Budget that'll only get less than 10% funding

Yeye

chukel:
The most unrealistic governor I have ever seen. Clown extraordinary. Another failure of a youthful governor.

In fact I'm tired of them..

Yaya Bello another wasteful governor...

Sammy07:


In fact I'm tired of them..

Yaya Bello another wasteful governor...

the clown thinks and sees governance as jamboree. How on earth will cross river have an annual budget of over 1 trillion. How? How much does he generate. The nomenclature of 2020 budget shows his crass stupidity. Being a professor doesn't absolve one of innate foolishness.

Unrealistic budget ...

mrvitalis:

This one thinks budget means the money is available

Cross river don't generate upto 100bn per year self

Sounding intelligent and then calls me "this one".

You think everybody on nairaland is daft or what? Which properly educated person doesn't understand what budgets are and what they mean and how they are funded, at least in Nigeria.

My point is still valid. Most of the money allocated for projects will be inflated and stolen through whatever means possible. Both the one they generate, the one they borrow. Budgets in Nigeria are high sounding nothings meant to enrich the executive and their goons.