Governor Bassey Edet Otu of Cross River State has presented a proposed budget of N987,808,089,235.92 for the 2027 fiscal year to the State House of Assembly.
Tagged the “Budget of Consolidation and Renewed Hope,” the proposed expenditure represents approximately a 2.57% increase over the 2026 budget. It aims to consolidate the administration’s achievements while addressing critical developmental needs across the state’s economy.
Presenting the document at the Assembly Complex in Calabar Wednesday, Governor Otu described the budget as a “solemn and sacred pact laden with the trust, expectation, and aspiration of the people for their improved livelihoods.”
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The budget proposal allocates N708.43 billion (71.72%) to capital expenditure, while recurrent expenditure accounts for N279.38 billion (28.28%). Governor Otu noted that the heavy capital allocation demonstrates his administration’s commitment to prioritizing infrastructure, human capital development, and productive investments to stimulate economic activity.
Key sectoral allocations in the 2027 budget include, infrastructure & Road Development N246.1 billion; Education N99.6 billion; Health N85.4 billion; Agriculture N28.2 billion; Aviation N21.8 billion; House of Assembly N20.2 billion; Judiciary N19.1 billion; Power N16.6 billion; Tourism N11.3 billion.
Addressing the state’s financial stance, Governor Otu disclosed that his administration has refrained from acquiring domestic or external loans since taking office. He acknowledged that servicing debts inherited from previous administrations continues to constrain project implementation, but reiterated his stance on fiscal sustainability.
“I cannot, and will never mortgage the future of our children with unsustainable loans,” Governor Otu declared.
He further highlighted plans to boost internally generated revenue (IGR), attract private-sector investments, and maintain strict financial discipline.
“My administration shall continue to be responsive to the yearnings of the citizenry, prudent in the management of the State’s resources, and accountable to the people. I will continue to work with the legislature and Judiciary for the betterment of the State,” he added, urging lawmakers to give the bill speedy passage.
In his opening remarks, the Speaker of the House, Rt. Hon. Elvert Ayambem, commended the Governor for respecting democratic processes and assured him of a meticulous legislative review.
“I wish to assure you, your Excellency, and the good people of Cross River State that this Assembly will subject the estimates to thorough, rigorous, and expeditious scrutiny,” Speaker Ayambem stated.
The Speaker commended the Governor’s zero-tolerance policy on cultism and kidnapping, which he noted has restored tranquility to the state. He also appealed for executive assistance regarding the comprehensive renovation of the Assembly Complex and Quarters, as well as operational buses for the legislature.
The event drew key dignitaries, including Rt. Hon. Peter Agbe Odey, Deputy Governor; Prof. Anthony Owan-Eno, Secretary to the State Government; Members of the State Executive Council, Service Chiefs, among others.
