Cross River State Plans N987.8bn Budget for 2027 with Focus on Capital Projects

Governor Bassey Otu of Cross River State on Wednesday presented a budget of N987.8 billion for 2027 to the state House of Assembly.

He set aside N708.43 billion for capital projects.

While presenting the budget, named “Budget of Consolidation and Renewed Hope,” Mr Otu said it focuses on infrastructure, agriculture, healthcare, education, and economic diversification.

The governor explained that the 2027 budget is a 2.57 percent increase compared to the 2026 budget.

“Capital expenditure accounts for about 72 percent of the total budget, while recurrent expenditure stands at N279.38 billion, representing 28.28 percent,” he said.

Mr Otu mentioned that his administration has not taken any new domestic or external loans since he took office in 2023. He noted that the state’s current debt mainly comes from previous administrations.

He promised to boost internally generated revenue and attract private investment to support development projects.

Review of the 2026 Budget

While reviewing the 2026 budget, Mr Otu said the government increased the spending framework to N963.07 billion through a supplementary budget. This was to cover urgent needs and counterpart-funding requirements.

He highlighted some past achievements, which include about 608 km of road projects, helping 8,000 farmers with over 20,000 bags of fertiliser, and distributing one million improved seedlings.

The governor also pointed out improvements in healthcare and education infrastructure, payment of WAEC fees for indigenes, and the promotion of 14,000 teaching and non-teaching staff as other successes.

“Infrastructure received the largest sectoral allocation of N246.1 billion, followed by education with N99.6 billion, health with N85.4 billion, and agriculture with N28.2 billion,” he said.

Mr Otu also mentioned aviation, transportation, and maritime development as key areas for economic diversification.

He urged the assembly to review and pass the appropriation bill. He assured that his administration is committed to managing public resources wisely.

The governor concluded that the budget will continue ongoing projects and aim for inclusive growth and better welfare for people in Cross River.