Bassey Otu Cuts Cross River Debt by Over ₦70 Billion

Bassey Otu, the Governor of Cross River State, stated that his administration has successfully reduced the state's domestic debts by over ₦70 billion since he assumed office in 2023. Speaking in Calabar during the inauguration of the All Progressives Congress Campaign Council for the 2027 general elections, Otu noted that the state's debt profile was over ₦204 billion as of May 2023.

He emphasized that this reduction was achieved without contracting new loans. Otu also reported an increase in the state's internally generated revenue from ₦21.1 billion in 2022 to ₦46.3 billion in 2024, attributing this growth to improved fiscal discipline.

His administration's achievements include recovering assets such as Tinapa and nearly ₦1 billion from Etung Cocoa Estates. Additionally, Otu mentioned infrastructure projects and investments in agriculture aimed at boosting food security.

He outlined his second term agenda, focusing on asset conversion, infrastructure completion, and youth enterprise programs.