Cross River State Governor, Prof. Ben Ayade, on Monday, initiated the downward review of the state’s 2020 budget from N1.1trillion to N147 billion.
The governor signed the budget in December 2019.
However, the current economic realities caused by the COVID-19 pandemic had forced the governor to slash the budget to N147 billion.
The state Commissioner for Finance, Asuquo Ekpeyong, who disclosed this to journalists in Calabar, said the downward review of the budget was one of the government’s ways of cushioning the effects of COVID-19 in the state and prevented hardship occasioned by the pandemic.
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He said: “The Cross River State government had taught it imperative to do some economic policies and measures in order to forestall this hardship and cushion the effect of the pandemic.
“The Cross River State government had reviewed its 2020 budget and amended it in line with current economic realities. The budget review exercise had the participation and inputs of Ministries, Departments, and Agencies (MDAs) and Civil Society Organisations (CSOs) in the state.
“The budget has been submitted to the Cross River State House of Assembly for its consideration, review, and possible resolutions.”
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