Gov Otu signs N296.9bn 2024 budget in Cross River

The Cross Rivers State Governor, Bassey Otu, on Friday signed the state 2024 budget of N296.9 billion into law.

In his remark during the ceremony held at the Governor’s Office in Calabar, Otu said that the budget comprised N180 billion in capital expenditure and N116 billion for recurrent spending.

He added that the budget was N96 billion higher than the N250 billion submitted to the state House of Assembly for consideration.

The governor said the increase was predicated on the need to provide adequate financial support for the persons living with disabilities in the state.

He said: “The increase in the budget allocation for this community is not just a necessity but a moral imperative to erase social imbalance of this special demographics as they are a vulnerable group.

“This increase will facilitate better access to healthcare, assistive technologies, education, and employment opportunities tailored to their capabilities; it is not just a fiscal decision but a statement of our values as a society.

READ ALSO: Gunmen shoot Cross River ministry accountant, escape with money

“In addition, there is an upscale budgetary provision for payment of gratuity, debt services, counterpart funds, nutrition activities, social protection, climate change and gender responsive budget.”

The governor stressed that his administration was committed to prudent spending, effective governance, and unwavering dedication to the welfare of the people.

Otu said he had given directive for early submission of the 2024-2026 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

“We hope to surpass our revenue targets, therefore, revenue-generating agencies, and indeed all Ministries Department and Agencies (MDAs) must ensure prompt and full remittances of collected revenues,” he stated.

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