Cross River State: Governor Presents N987.8bn 2027 Budget to Assembly

The governor said the 2027 budget represented a 2.57 per cent increase compared with the 2026 budget. 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 earmarked N708.43 billion for capital projects. Presenting the budget, christened "Budget of Consolidation and Renewed Hope," Mr Otu said the proposal prioritised infrastructure, agriculture, healthcare, education and economic diversification. Follow us on WhatsApp | LinkedIn for the latest headlines The governor said the 2027 budget represented a 2.57 per cent increase compared with the 2026 budget. "Capital expenditure accounts for about 72 per cent of the total budget, while recurrent expenditure stands at N279.38 billion, representing 28.28 per cent," he said. The governor said his administration had not obtained fresh domestic or external loans since assuming office in 2023, noting that the state's existing debt burden was mainly inherited from previous administrations. He pledged to strengthen internally generated revenue and attract private investment to finance development projects. Reviewing the 2026 budget, Mr Otu said the government raised the spending framework to N963.07 billion through a supplementary budget to accommodate urgent interventions and counterpart-funding requirements. He listed past achievements, including about 608 km of road projects, support for 8,000 farmers with over 20,000 bags of fertiliser, and the distribution of one million improved seedlings, among others. The governor also listed improvements to healthcare and education infrastructure, payment of WAEC fees for indigenes, and the promotion of 14,000 teaching and non-teaching staff as other achievements. "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 identified aviation, transportation, and maritime development as key areas for economic diversification. He urged the assembly to consider and pass the appropriation bill, and pledged his administration's commitment to prudent management of public resources. The governor said the budget would consolidate ongoing projects and promote inclusive growth and improved welfare for Cross River residents. Get the latest in African news delivered straight to your inbox By submitting above, you agree to our privacy policy . We need to confirm your email address. To complete the process, please follow the instructions in the email we just sent you. There was a problem processing your submission. Please try again later. Read the original article on Premium Times . AllAfrica publishes around 600 reports a day from more than 90 news organizations and over 500 other institutions and individuals , representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica . To address comments or complaints, please Contact us . AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 600 news and information items daily from over 90 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC. Get the latest in African news delivered straight to your inbox By submitting above, you agree to our privacy policy . We need to confirm your email address. To complete the process, please follow the instructions in the email we just sent you. There was a problem processing your submission. Please try again later.