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Governor Bassey Otu Wednesday presented a ₦987.8 billion appropriation bill for 2027 to the Cross River State House of Assembly in Calabar, christening it the “Budget of Consolidation and Renewed Hope.”
Otu said the budget is a “sacred pact” with the people to deliver improved livelihoods through fiscal discipline and prudent management.
The proposal — ₦987,808,089,235.92 — marks a 2.57 per cent increase over the 2026 budget. Capital expenditure takes ₦708.43 billion (71.72%), while recurrent is ₦279.38 billion (28.28%), reflecting a focus on infrastructure, human capital and productive investments.
He said the estimates were framed within the 2027-2029 Medium-Term Expenditure Framework, aimed at sustaining ongoing projects and creating jobs.
On debt, Otu said his administration has not taken fresh domestic or foreign loans since 2023, attributing the current burden to inherited obligations worsened by naira devaluation.
Reviewing 2026, he cited over 608km of roads across the three senatorial districts, rural electrification projects, distribution of 20,000 bags of fertiliser to 8,000 farmers and over one million improved seedlings.
Sectoral allocations include Infrastructure ₦246.1bn, Education ₦99.6bn, Health ₦85.4bn, Agriculture ₦28.2bn and Aviation ₦21.8bn.
Otu highlighted five aircraft for the state fleet, 730 electric vehicles, and Federal Government approval for the $3.5bn Bakassi Deep Seaport.
He sought swift passage, pledging responsive, prudent and accountable governance.
