January 25, 2021

Cross River LG, Biase, budgets N3.2bn for 2021 fiscal year

Cross River LG, Biase, budgets N3.2bn for 2021 fiscal year

By Emma Una – Calabar

Biase Local Government Council Chairman, Mrs Oma Egwu, on Monday announced a budget estimate of N3,222,023,847.00 (three billion, two hundred and twenty two million, twenty three thousand, eight hundred and forty seven naira) for the 2021 fiscal year.

Christened “Budget of Collaboration”,  the Chairman said the budget  is so named because the council wants to collaborate with relevant agencies to shore up development and increase revenue generation in the council area.

“Budget of Collaboration  presupposes   that it is  to address any imbalance, drive down dividends of democracy to the grassroots and considering our dwindling resources,  there must be collaboration with relevant/ critical stakeholders like Cross River State Government, Ministry of Local Government Affairs, MDAs, the rural populace”

She said the budget is opening with a balance of N55,176,938 million which is 1.71 %, Internally Generated Revenue, N30,000,000.00, which is 0.93%,  Statutory Allocation from State Government N50,000,000.00, or 1.5%,   Allocation from Federal Government N1,3000,000.00, 40.5%, Value Added Tax, N609,560,212,000 (18.92%) while Excess Crude Sales will get the council N30,000,000 (0.93%), and Grants from donor agencies will attract N100,000.00.

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The capital  expenditure will gulp N1.6 billion and according to her this include Agriculture which has N45.652 million, Livestock/Veterinary N1.490 million, Forestry N450,000.00.

The Social Service Sector will take a total of N313,356 and the subheads include water supply, drainage, Housing, Town and Country Planning, Environment and Refuse Disposal.

Mra Egwu called on the councillors to not only debate the figures in the budget but also look at the peculiarities and potentialities the budget seeks to highlight for the development of Biase as the leading council area in the state

Vanguard News Nigeria