Godwin Ajom |Calabar
The Cross River State House of Assembly has approved an increase in the 2022 budget, from the previously announced N 276,279,960,667,35 billion as presented by Governor Benedict Ayade, to N 354,505,535,313,25 billion.
Defending the increase, speaker of the state house of Assembly, Mr Eteng Williams said it was discovered that the initial provision of N14 billion was not enough for debt servicing and debt refinancing, additional N20 billion has therefore been used to augument the provision.
According to the Speaker, approval for procurement of critical hospital equipment like, Pet Scan Linear Accelerator and Cyclotron were received after the budget had been presented by the governor.
Eteng also emphasized that the items would be bought at the current exchange rate which brought in additional N4.5 billion.
Schedule 1 Personal and overhead cost stood at N11, 965, 354,107.96, Schedule 2 Capital expenditure , N225, 746, 261,606.98 while Statutory Expenditure was peg at N9, 802, 919, 600,31, bringing a grand total of the 2022 estimate to N354,505,535,313.25.