Professor Ben Ayade, the governor of Cross River State, has presented the state House of Assembly with N276 billion naira budget projections for 2022.
The budget, dubbed “Conjugated Agglutination,” includes N106 billion in recurring spending and N170 billion in capital projects.
The governor explained that the budget’s name comes from the fact that it is a “cascade” of initiatives that are being implemented one after the other to assure their completion. Putting everything together to make a new envelope, which will erupt with a new prosperity agenda.
When presenting the budget, the governor stated that his government would not begin on any new projects, but would instead focus on completing the initiatives that he had already begun.
Ayade said: “The 2022 budget tries to marry reality, certainty, aspiration, and hope. It is a budget that will ensure that all the projects embarked upon are completed.”
Professor Ayade stated that a monthly sinking fund of N30 to N50 million will be set up to manage the state’s mounting pension and gratuity liabilities.
The governor said, “it is his dream that all retirees get their gratuity and pensions because we will all grow old”.
The governor also stated that his government has produced a master plan for the state that includes land, sea, and air transportation, as well as all three senatorial zones.
The governor’s budget presentation was boycotted by all six members of the People’s Democratic Party.
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