In its effort to implement realistic economic policy and allocate resources in a useful and sustainable manner, the Cross River State government has organized a one-day stakeholder consultative forum for 2024 budget preparation.
The forum, organised by the Department of Budget, Monitoring and Evaluation Thursday, is aimed at reviewing and analyzing the current budget, and the information gathered is then used to inform budget decisions and develop forecasts for revenues and expenditures for the 2024 fiscal year.
Otu stated this at Dr. Franklin Ani Auditorium, College of Health Technology, Calabar, while declaring open the stakeholders forum.
The Governor, Prince Bassey Otu, and his Deputy, Rt, Hon Peter Odey, said when the budget is finally passed, his administration will ensure that the implementation ratio will be transparent for everyone to view the features of a new brand state.
“We will ensure that this budget is implemented to the very latest, for if we do not implement it appropriately, then we risk not creating the right opportunity to reduce poverty and hunger or improve healthcare in the state.
“We are on track to having the right budget in 2024, a budget that will build Cross River State, a budget that will improve infrastructure, education, healthcare, the standard of living, and the transport sectors.
“We cannot create wealth as a government if we do not budget adequately, we cannot even employ because we would not know the number of people to employ,” Otu said while narrating the importance of the budget consultative forum.
In his keynote address, Commissioner for Finance, Mr Mike Odere, argued that resources are scarce; hence to deliver on the mandate as government, there must be proper allocation and utilization of the scarce resources.
Odere, represented by the Permanent Secretary of the ministry, Dr Atim Ekpenyong, remarked that top government functionaries need to ensure that projects succeed on time and within budget through better management of human and material resources.
He listed the benefits of effective resource utilization to include maintaining productivity as it prevents staff from underperforming and being overburdened by workloads, reducing risks of oversights, and managing projects with better visibility, among others.
Chairman of the House of Assembly Committee on Finance and Appropriation, Hon Cyril Omini, stressed the need to put in place a budget that aligns with the needs of the people and prioritise projects aimed at creating a better tomorrow.
“Budgetary process affects each and every one of us, our well-being, personal goals, and aspirations. Therefore we must all take an active part in the budgetary process and work towards a budget that is focused on making a difference in the lives of our people,” Omini said.
He further enjoined stakeholders to look beyond individual interests while working towards a common goal for the good of the state and citizenry.
Earlier in his welcome speech, the Special Adviser, Budgets monitoring and evaluation, Otu Ita, informed that the purpose of the forum is to achieve an all-inclusive budget document that will meet the desires of the people where no one will be left behind.
Ita remarked that his office, on the governor’s directives, is developing a medium-term expenditure framework and fiscal strategy paper, a three-year rolling plan from which annual budgets shall be fine-tuned.
“The proposed medium-term expenditure framework and fiscal strategy paper is developed using historical data. These data are sourced from previous years’ accounts and audited financial statements which the people first agenda remains the hallmark in developing such,” the Special Adviser, Budgets disclosed.
He further expressed hope that at the end of the forum, development gaps that existed in the various villages and urban areas will be identified and appropriate steps taken to address them.
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