Otu Presents N987.8bn Budget of Consolidation, Earmarks N708bn For Capital Expenditure
By Missang AKPET
Governor of Cross River State, Senator Bassey Otu, on Tuesday presented the 2027 budget estimates and Appropriation Bill of N987,889,235,992 tagged "Budget of Consolidation and Renewed Hope" to the Cross River State House of Assembly.
Presenting the budget at the Assembly complex, Otu said the budget size represents an incremental adjustment of about 2.57% compared to the 2026 budget.
According to the governor, out of the total budget size, the sum of N708,426,093,900.24 kobo, representing 71.72% of the total budget is allocated to capital expenditure, while recurrent expenditure received N279,381,995,335.68 kobo, representing 28.28%.
A breakdown of sectoral allocations, infrastructure took the lion share with N246.1 billion, followed by 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, special duties and intergovernmental relations N10.8 billion, science, technology and innovation N6.1 billion, information N4.7 billion, women affairs N4.7 billion, while general administration and other sectors got N413.2 billion.
On revenue sources to fund the budget, Otu listed federal allocation, grants from international organisations and donor agencies, internally generated revenue, loans, state reserve funds and sales of the state's moribund assets.
The governor said the 2027 budget, like that of 2026, is benchmarked on the United Nations Sustainable Development Goals (SDGs).
"The decision to continue with the SDG benchmark is to guarantee the continuity of projects and programs which were not completed in the previous budget year. For this reason, we have deliberately placed emphasis on the state value proposition, which is hinged on infrastructure, agriculture, health, education, aviation, and of course tourism," Otu stated.
On infrastructure, the governor said more roads, bridges and other relevant facilities for sustainable economic growth will be provided, while existing industries with employment potentials will be reactivated through private sector partnerships.
On education, he stated that with the present literacy rate of about 80.7%, his administration is targeting a 98% literacy rate by the end of his tenure, adding that free and compulsory education from primary to junior secondary, payment of WAEC fees as well as technical and vocational education, will be sustained.
On health, the Governor hinted that integrated health care services across primary, secondary and tertiary levels will be pursued to reduce infant and maternal mortality, with procurement of modern equipment as priority in 2027.
He added that his administration is targeting to become the largest cocoa and oil palm producing state in Nigeria through its cash crop revolution programme, provision of modern equipment, single digit loans, free improved seedlings and establishment of agro allied industries.
He noted that the proposed budget will accelerate the shared prosperity of Cross River state while Consolidating on the gains of his administration.
