Cross River State Governor Bassey Otu unveiled a N987.8bn budget for 2027, focusing on capital projects and infrastructure.
Cross River State Governor Bassey Otu presented a N987.8 billion appropriation bill for 2027 to the Cross River State House of Assembly in Calabar, christening the proposal the Budget of Consolidation and Renewed Hope.
The administration submitted the fiscal plan on Wednesday, aiming to deliver improved livelihoods through strict fiscal discipline and prudent management across the region, according to information published by The Sun Nigeria.
The substantial financial package marks a 2.57 per cent increase over the previous year, as the government seeks to sustain ongoing developmental milestones and drive aggressive job creation.
Cross River State Capital Expenditure And Funding
Capital expenditure takes the lion share of N708.43 billion, representing 71.72 per cent of the total allocation, while recurrent spending accounts for N279.38 billion at 28.28 per cent.
Governor Bassey Otu explained that the estimates were carefully framed within the 2027-2029 Medium-Term Expenditure Framework to prioritize infrastructure and productive investments.
Regarding public debt, the governor stated that his administration has not secured fresh domestic or foreign loans since 2023, pointing to inherited obligations worsened by naira devaluation.
Sectoral Allocations In The 2027 Appropriation Bill
The comprehensive financial blueprint distributes funds across critical sectors to boost regional development and economic growth throughout the state.
Key sectoral allocations in the budget include Infrastructure at N246.1bn, Education at N99.6bn, Health at N85.4bn, Agriculture at N28.2bn, and Aviation at N21.8bn.
Reviewing achievements from 2026, the administration highlighted the construction of over 608km of roads and numerous rural electrification projects.
Infrastructure And Economic Development Plans
The government also distributed 20,000 bags of fertilizer to 8,000 farmers alongside over one million improved seedlings to boost local food production.
In the aviation and transport sectors, Bassey Otu highlighted five aircraft for the state fleet and 730 electric vehicles.
Furthermore, the administration secured federal approval for the $3.5bn Bakassi Deep Seaport, seeking swift legislative passage for the new fiscal plan.
Frequently Asked Questions
Who presented the 2027 budget in Cross River State?
Cross River State Governor Bassey Otu presented the N987.8 billion appropriation bill for 2027 to the state legislature in Calabar.
What is the total value of the Cross River 2027 budget?
The total value of the budget proposal is N987,808,089,235.92, representing a 2.57 per cent increase over the 2026 budget.
What is the primary focus of the new fiscal proposal?
The budget focuses heavily on capital expenditure, allocating N708.43 billion to infrastructure, education, health, agriculture, and aviation.
Has the administration taken new loans since 2023?
Governor Bassey Otu stated that his administration has not taken any fresh domestic or foreign loans since 2023.
