Governor Bassey Otu Unveils N987.8bn 2027 Budget

On October 21, 2026, Cross River State Governor Bassey Otu presented a proposed budget of N987.8 billion for the 2027 fiscal year to the state House of Assembly, naming it the ‘Budget of Consolidation and Renewed Hope’. Otu emphasized the budget's role as a commitment to sustainable development, fiscal discipline, and inclusive economic growth.

The budget, amounting to N987,808,089,235.92, reflects a 2.57 percent increase over the 2026 budget, with capital expenditure at N708.43 billion (71.72 percent) and recurrent expenditure at N279.38 billion (28.28 percent). Otu highlighted the importance of prudent resource management and accountability for successful implementation.

He noted that his administration has not taken new loans since he took office in 2023, attributing existing debt to previous administrations. Otu pledged to enhance internally generated revenue and attract investments to finance development priorities, asserting that he would not compromise the future of the state's children with unsustainable loans.