Why I Signed N538.5bn Budget Into Law – Otu

Cross River State Governor Bassey Otu has given reasons for signing the 2025 state budget of N538.5bn into law. He pledged to prioritise infrastructural development, which he said would be a cornerstone of his administration’s agenda.

At the signing ceremony, at the instance of the Speaker of the Cross River State House of Assembly, Elvert Ayambem, who presented the state budget to the governor for approval, Otu stated that one of the policy thrusts of his administration is to drive economic growth and enhance the quality of life for citizens.

“The 2025 budget, with a total size of N538,523,915,715.99 billion, reflects our deep commitment to economic growth, infrastructure development, and improving the well-being of our people.

“Infrastructure is the backbone of sustainable development, and we are resolute in our determination to create world-class infrastructure for Cross River State,” he said.

“A significant 62% of the budget, amounting to N333,343,387,290.83 billion, has been allocated for capital expenditure.

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“These funds will be directed towards critical infrastructure projects, including road construction, healthcare facilities, educational infrastructure, and other long-term initiatives to foster development and create jobs.

The remaining 38% of the budget, equivalent to N250 billion, is dedicated to recurrent expenditure.

“This allocation covers essential government operations, such as salaries, pensions, healthcare services, and education, ensuring the seamless functioning of public institutions and services”, he stated.

Otu lauded the state legislature for its diligence in reviewing and passing the budget in record time.

“Their commitment has ensured that we remain on track with our budget timeline, enabling us to begin 2025 on a strong footing,” He maintained.

Earlier, Speaker, Cross River State House of Assembly CRHA Elvert Ayambem stressed that the budget’s progression from the initial proposal submitted by the governor on October 28, 2024, at N498 billion, the legislature, through its finance and appropriation committee reviewed and increased it to N538.5 billion.

Ayambem averred that the final budget breakdown includes N202,613,937,499.90 billion for statutory expenditure and over N333.3 billion for capital projects.