Cross River State 2020 Revised Budget Is N147.13 Billion

By Francis Ogar, Calabar

The 2020 Cross River State revised budget proposal of N147.130166.966 has been passed into law by the State House of Assembly last week.

It is a downward review by N 953,038,340,721 from the 2020 initial approved budget of N1,100,168,507,687.

The Lens Newspapers was informed that under the new arrangement, the recurrent internal and federal sources has been reviewed downward as well from N121,461,868,952 to N66,085.762,847 with a difference of N55,376,106,105.

Also, the recurrent expenditure approval of N184,900,048,007 has equally been reduced to N76,336,396,298 and the recurrent expenditure decreased by N108,563,651,709.

The Lens Newspapers  was further informed that Capital expenditure was the worst affected in the arrangement with a downward slashing from N915, 268, 459,680 to N70,793,770,668,  representing a decrease of N844,474,689,012.

The House of Assembly gave several reasons for the downward review of the budget citing Covid-19 Pandemic which impacted social, health and economic activities of government relative to the people of Cross River State.

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