Otu Signs Revised 2023 Appropriation Bill Into Law, Poised To Work With Realistic Financial Framework
By Ogbu KOSY
Cross River state governor, Sen. Bassey Otu, Thursday, signed the revised 2023 appropriation bill into law in realisation of his 'people first' agenda.
The appropriation bill has a total sum of two hundred and fifty billion, seven hundred and eighty one million, fifteen thousand, six hundred and sixty one naira (N250,781,015,661), a lowered review from its initial size of N330billion.
Speaking at the event, Sen. Otu, said the need to review the 2023 budget was orchestrated by his administration's commitment to work with a realistic financial framework for the betterment of the State.
"Let me start by thanking the speaker and the House for the speed in passing this bill. One of the most difficult bills to pass in the lagislature is the appropriation bill.
"It is the first bill I am signing into law in conformity with the 'People First' agenda. Collaborating with the House of Assembly we shall achieve the desired results.
"With the signing into law of this revised appropriation bill, Cross Riverians will start seeing the real dividends of democracy which will improve the fortunes of the state," the governor said.
According to the Governor, the essence of the downward review of the budget is to capture the true income indices and make it more realistic, in line with current reality in Internally Generated Revenue, as well as the monthly federal allocation to the state.
Earlier, the speaker, Rt. Hon. Ayambem expressed gratitude to his colleagues for working assiduously to see that the the budget revision exercise was thoroughly done and completed in record time.
According to the speaker, the budget was reviewed downward to enable government work with the state's income revenue.
"It is the most realistic budget in time past, reviewed in light of the state's financial income. Cross Riverians will be happy with the size of this budget.
"The legislative bottlenecks were observed and all due processes strictly followed and I assure you that the executive now has a good ground to take off."
Assuring the governor of a harmonious working relationship between the legislative and the executive arms of government, the speaker said: "I want to assure you of the cooperation and collaboration of the House of Assembly in providing good governance to our dear State."
Recall that the 2023 appropriation bill which was signed by the immediate past administration had a total sum of Three Hundred and Thirty billion naira.
