{"id":346742,"date":"2025-08-15T01:58:15","date_gmt":"2025-08-15T00:58:15","guid":{"rendered":"https:\/\/www.thetidenewsonline.com\/?p=346742"},"modified":"2025-08-14T17:59:54","modified_gmt":"2025-08-14T16:59:54","slug":"criver-assembly-approves-n642bn-supplementary-budget","status":"publish","type":"post","link":"https:\/\/www.thetidenewsonline.com\/?p=346742","title":{"rendered":"C\u2019River Assembly Approves N642bn Supplementary Budget"},"content":{"rendered":"<div dir=\"auto\">The Cross River House of Assembly has passeda total sum of N642,160,260,164.66 as 2025 supplementary budget for the state.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">It would be recalled that the house, on Dec. 24 2024, passed the 2025 Appropriation Bill, tagged \u201cBudget of Sustainable Growth\u201d, totalling over N538 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The supplementary budget shows a variance of about N142 billion, representing 26 per cent increase over the initial budget.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Presenting the report, Wednesday, the Chairman of the Assembly\u2019s Finance and Appropriation Committee, Okon Owuna, said the addition was to accommodate several critical expenditures that were not captured in the original 2025 budget.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Owuna said the development had provided the fiscal space to introduce additional expenditures across critical sectors.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">He also said that the supplementary budget introduced an upward adjustment across sectors like administration, economic, law and justice, among others.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cThe key factors necessitating the supplementary budget include new obligations and emergency spending not captured in the original budget.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cThere are also recently approved strategic programmes requiring immediate financial backing and improved outlook from Internally Generated Revenue (IGR), internal grants and state shares from Federal Account Allocation Committee (FAAC).<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cThe budget will be financed from IGR, Aids and Grants and FAAC,\u201d he said.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In separate reactions, other lawmakers said that the approval of the supplementary budget was necessitated by Gov. Bassey Otu\u2019s commitment to infrastructure development in the 18 Local Government Areas of the state.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Speaker of the House, Elvert Ayambem, remarked that the supplementary budget was for the welfare of citizens of the state.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Ayambem further said that projects in all the LGAs had been duly captured with a view to transforming the state.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Cross River House of Assembly has passeda total sum of N642,160,260,164.66 as 2025 supplementary budget for the state. It would be recalled that the house, on Dec. 24 2024, passed the 2025 Appropriation Bill, tagged \u201cBudget of Sustainable Growth\u201d, totalling over N538 billion. The supplementary budget shows a variance of about N142 billion, representing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-346742","post","type-post","status-publish","format-standard","hentry","category-niger-delta"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/346742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=346742"}],"version-history":[{"count":1,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/346742\/revisions"}],"predecessor-version":[{"id":346745,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/346742\/revisions\/346745"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=346742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=346742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=346742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}