He recently revealed this after he visited the Revenue Mobilization, Allocation & Fiscal Commission, in Abuja.
According to him, Cross River’s poor financial status is as a result of the ceding of Bakassi Peninsular to Cameroon and the consequent transfer of the state’s 96 oil wells to Akwa Ibom state by the federal government.
He added that both actions from the Federal Government plunged Cross River State into severe financial crisis and untold hardship, and something must be done to change that.
A statement read, “Ayade, who addressed the Commission’s committee on Fiscal Efficiency & Budget, lamented Cross River’s poor financial status, which he blamed on the ceding of Bakassi Peninsular to Cameroon and the consequent transfer of the state’s 96 oil wells to Akwa Ibom state by the federal government.”
“The twin actions of the federal government plunged Cross River state into severe financial crisis and untold hardship, leaving her helpless with the second smallest federal allocation in the country.”
“The federal government was unfair to Cross River despite being responsible for her plight,’” and appealed to RMAFC to consider upscaling federal allocation to the state.”
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