Otu Signs N538.5bn C’River 2025 Budget into Law

Bassey Inyang in Calabar

Governor Bassey Otu of Cross River State has granted assent to the state’s 2025 appropriation bill of N538.5 billion passed into law by the state House of Assembly.

Speaking at the signing ceremony of the budget document titled “Budget of Sustainable Growth,” into law on Christmas Eve, Otu said the 2025 budget is a significant step toward sustainable development, anchored on infrastructure development as a cornerstone of the administration’s agenda for next year.

Speaking in the presence of the Speaker of the State Legislature, Hon. Elvert Ayambem, who presented the budget for approval, Otu highlighted the administration’s vision 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, 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.

He said a significant 62 percent of the budget, amounting to N333,343,387,290.83, has been allocated for capital expenditure.

Otu said: “These funds will be directed towards critical infrastructure projects, including road construction, healthcare facilities, educational infrastructure, and other long-term initiatives aimed at fostering development and creating jobs.

“The remaining 38 percent 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.”

The governor commended 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,” Otu said.

Earlier, Speaker Ayambem shed light on 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 said that the final budget breakdown includes N202,613,937,499.90 for statutory expenditure and over N333.3 billion for capital projects.

He said the 2025 budget underscores Governor Otu’s vision of sustainable growth through strategic investments, reflecting a commitment to addressing the state’s developmental challenges while improving the standard of living for its citizens.