Governor Ben Ayade of Cross River State has said the 2020 budget is themed Budget of Olipotic Meristemasis because it is neither driven by economic or financial analysis, but by spiritual force.
According to the Governor, the budget has a capital expenditure of N911 billion representing 82.8 percent and a recurrent expenditure of N188 billion, representing 17.2 percent of the budget.
Speaking with journalists shortly after the presentation of the budget to the state assembly, Ayade said it is a complex realism that is not driven by reason.
“A rapid growth derived from the spiritual force. It’s a complex metaphysical realism that when you have an ambition that is not driven by reason, not driven by economic and financial analysis, it’s driven by the spiritual force, beyond the normal. That’s why it’s meristematic because it is rapid growth.
Given an analysis of a plant, the governor explained that meristemasis is the active cell that stimulates growth in a young plan, adding that such a plant grows very fast.
“When you do that combination from major physics to Biology in a social atmosphere, it now becomes Olipotic Meristemasis.”
When asked about the 2019 budget, Ayade said it had performed excellently.
“It is the one that has prepared us for this new velocity that we are moving into. For me, I think that the problem is, Nigerians don’t see the intellectual value of a very ambitious budget. Even FG itself budget 9trn, and they ended up getting nearly 15 percent, deficit budgeting. It is the expression of the ambition that gets it done.
“And if you look at the total budget accomplished in relationship to money, you will see that the budget meet the N1trn, but the expenditure in actual naira term is far less. But in terms of quantum of value, it is an approximation to the budget.
“It’s a professoral way of doing a social algebra, which is quite complex. You need to be at that philosophical level to appreciate the sophistry of this linkage.”
According to him, the performance ration of the last year’s budget is was put to about 78%.
“This year, it will be more because all the factories will now be yielding. By the first and second quarter, all the factories will be selling. Assuming we privatise, ass8uming we concession, we are going to yield a lot of funds.