Professor Ben Ayade, Governor of Cross River State has described the proposed 2020 budget for the state as one that is anchored on a belief “in the spiritual force which is the third energy.”
Speaking at the Chambers of the Cross-River State House of Assembly, where he presented an appropriation bill of N1.1 trillion for the 2020 fiscal year, Ayade disclosed that the budget has a capital expenditure of N911 billion representing 82.8 per cent and a recurrent expenditure of N188 billion, representing 17.2 per cent of the budget.
The budget is tagged ‘Budget of Olipotic Meristemasis’.
While explaining that meristemasis is the active cell that stimulates growth in a young plant, which in this case, represents the state, he pointed out that, “the budget will catalyse into existence a great opportunity for everyone to put their hands and legs on the pedal and fill it off”.
The governor said the decision to allocate 82.8 per cent of the budget to capital expenditure, was indicative of our aggressive commitment that will continue to reduce recurrent expenditure and focus on capital expenditure.