Cross River Lawmakers Approve N642bn Supplementary Budget
The Cross River State House of Assembly has approved a supplementary budget of N642 billion for the state's 2025 fiscal year. The budget, tagged "Budget for Sustainable Development," represents a 26% increase from the initial budget.
Governor Bassey Otu's commitment to infrastructural development across the state's three senatorial districts was cited as the reason for the approval. The Finance and Appropriation Committee chairman, Okon Owuna, highlighted the necessity of the supplementary budget to accommodate critical expenditures not initially captured in the 2025 budget.
The budget will be financed through Internally Generated Revenue (IGR), internal grant allocation, and Federal Account Allocation Committee (FAAC) aid. Speaker Elvert Ayambem emphasized that the supplementary budget prioritizes citizen welfare.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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