The Cross River House of Assembly has approved an upward review of the 2026 supplementary appropriation bill of the state to N963 billion.
The revised figure represents an increase of N1.45 billion from the earlier N961 billion provision, which translates to a 0.15 per cent rise.
|
|
The approval followed consideration of the report of the House Committee on Finance and Appropriation during the sitting of the assembly on Thursday.
Presenting the report, the committee Chairman, Cyril Omini, representing Yakurr II State Constituency, said that the review addressed additional financial requirements.
|
|
|
|---|
Mr Omini further said the adjustment was designed to achieve strategic objectives such as infrastructure capitalisation, counterpart funding, macroeconomic adjustments and social interventions.
He listed unforeseen expenditures, new policy initiatives, and increased revenue prospects among the factors necessitating the supplementary budget.
The lawmaker also cited improved employment opportunities and enhanced public service delivery as additional reasons for reviewing the appropriation.
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
“This adjustments will promote prudent fiscal management, improve budget implementation and direct resources toward priority programmes and projects.
“These measures are aligned with Governor Bassey Otu’s ‘People First’ mantra and aimed at delivering greater value to citizens,” he stated.
READ ALSO: Despite Cross River budgeting billions of naira for erosion control, deadly landslides expose prevention gaps
The house subsequently authorised the implementation of the supplementary budget in accordance with relevant provisions of the law.
The Speaker, Elvert Ayambem, commended the committee for being thorough in discharging its duties.
The Chief Whip, Hillary Bisong, representing Boki ll State Constituency, moved the motion for the third reading of the bill, while Linus Etim, representing Akamkpa ll State Constituency, supported it.
(NAN)
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
