Governor Liyel Imoke
The Cross River State Government has proposed a budget of N151.3 billion for the 2013 fiscal year.
Tagged: “Budget of Commitment,” 70 per cent of the budget shall service capital expenditure requirements while 30 per cent is set aside for recurrent needs.
While presenting the proposal to the state House of Assembly, Governor Liyel Imoke explained that the budget is intended to consolidate on the gains made in 2012 as the state strives to deliver quality service to the people.
According to him, “We have tried to ensure a public expenditure structure that prioritises a higher capital structure over recurrent. As a deliberate principle, we strive to maintain capital/recurrent budget ratio of 70 per cent: 30 per cent.
This not only emphasises the importance of prudence but also demonstrates the state’s commitment to ensure that more of our financial resources are devoted to developmental projects and programmes.”
A breakdown of the budget shows that the sum of N7.8 billion is allocated to the health sector. Education is allocated N19.6 billion.
The allocation, according to the governor, is to help sustain the gains recorded in that sector in 2012.
“Our huge investment in the sub-sector has began to yield desired results as evidenced in the performance of our students in the 2011/2012 May/June WAEC SSCE. In 2013, we hope to extend access to qualitative education through the establishment of a state polytechnic at Ugep,” said the governor.