…earmarks ₦708.4bn for Capital Projects
By Ike Uchechukwu, CALABAR
Cross River State governor, Sen Bassey Otu, on Wednesday presented a ₦987.8 billion budget for 2027 to the State House of Assembly, with ₦708.4 billion, or 71.72 per cent, earmarked for capital projects.
The governor also vowed not to “mortgage the future of our children with unsustainable loans.”
Christening it the “Budget of Consolidation and Renewed Hope,” Otu described the proposal, valued at ₦987,808,089,235.92, as “a solemn and sacred pact laden with the trust, expectation and aspiration of the people for their improved livelihoods.”
The figure is about 2.57 per cent higher than the 2026 budget. Recurrent expenditure stands at ₦279.38 billion, or 28.28 per cent
Addressing concerns over the state’s debt profile, the governor said his administration had obtained no fresh domestic or external loans since assuming office in 2023, citing National Bureau of Statistics and Debt Management Office data.
He blamed existing debt on inherited obligations and currency devaluation.
“I cannot, and will never mortgage the future of our children with unsustainable loans,” he declared
He pledged to boost internally generated revenue and attract private-sector investment.
Speaking further, Otu said a supplementary budget had raised the 2026 spending framework to ₦963.07 billion.
He reported the delivery of over 608 kilometres of roads, including the Nsan–Oban, Adiabo–Ikoneto and Yahe–Ebo–Wanakade roads.
He said over 20,000 bags of fertiliser were distributed to 8,000 farmers, with over one million oil-palm, cowpea and cocoa seedlings supplied. A 50,000-hectare rice project is under way.
“There is no food security without agriculture,” he asserted, adding that the state aims to become Nigeria’s leading cocoa and oil-palm producer.
On Health and Education, Otu cited 95 per cent routine immunisation coverage and oxygen plants in Calabar and Ogoja.
He said over ₦17 billion in UBEC funds was deployed, WAEC fees were paid for 43,694 indigenes, and over 14,000 staff were promoted.
The state targets a 98 per cent literacy rate from 80.7 per cent.
The governor disclosed a new Bombardier CRJ jet, bringing the fleet to five, and 730 electric vehicles.
The Bakassi Deep Seaport has federal approval and awaits construction, with about $3.5 billion in expected private investment.
“Our overall target in this sector is to transform our aviation business model into a highly profitable and self-sustaining revenue asset for the State,” he said.
Infrastructure gets the largest share at ₦246.1 billion, followed by education (₦99.6 billion), health (₦85.4 billion), agriculture (₦28.2 billion) and aviation (₦21.8 billion).
The House of Assembly gets ₦20.2 billion, the judiciary ₦19.1 billion, power ₦16.6 billion and tourism ₦11.3 billion.
Otu urged lawmakers to pass the Appropriation Bill promptly and stressed harmony among the three arms of government.
“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,” he assured.
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