BY: Vitalis Ugoh, Calabar
The chairman of Bakassi Local Government Area of Cross River State, Hon Chief Iyadim Amboni Iyadim, has presented the 2022 Budget Proposal of N 3,594,154, 599.00 with the theme ” Budget Of Reconstruction” to the Legislative Arm of Council.
Presenting the Budget, Iyadim explained the source and amount of the budget proposal as follows, Opening Balance is N106,338,778.00 , Internally Generated Revenue N38,542,356.00 , State Statutory Allocation #200,000,000.00 , Federal Statutory Allocation N1,322,023,819.00 , Value Added Tax N944,819,738.00 , Miscellaneous #602,427,907.00 , Loans N200,000,000,.00 , and Grants N180, 000,000.00.
The chairman further stated that, ” The expenditure priorities of government remain Human Capital Development, Economic Diversification including agriculture and infrastructure development, and promoting good governance ”
“The continued implementation of the programs and projects embedded in these sectors will support the reconstruction ot our economy in 2022. The composition and allocation of government expenditure for the 2022 financial year reflect these priority areas” , he emphasized.
He further explained that the Recurrent Expenditures will amount to N 1,203,788,769.00 (33.49%) , Capital Expenditures N 2,390,356,829.00 (66.51%).
A breakdown shows that Economic Development is allocated N324,852,278 (28.73%), Social Service Development N141,839,801.00 (11.67%), Environmental and Regional Development N460,936,617.00(37.93%) and General Administration N287,547,310.00(23.66%).
He posited that in raising the much needed revenue, ” we would ensure that the actions taken by the government do not worsen the woes of the general populace. To tackle this, we will undertake projects that will have residual effect on the economy, like the construction of an abattoir at Ikang will give employment,add to the aesthetics of Ikang and generate revenue.
Responding after receiving the budget proposal, the Leader of Bakassi Legislative Council, Hon Edem Ekeng Effiom, commended the executive for a job well done and and assured that as legislators , they are ready to pass it on time because of its focus on the development of Bakass.
Effiom while lauding the chairman for constructing a modern motor park at Ikang and a health center Ine Abasi, hoped the implementation of the budget will commence before the end of the year.
He said the legislature will work in tandem with the executive to ensure Bakassi Local Government Area takes its pride of place among other local government areas.