Gov. Otu signs 2025 budget estimate into law, makes infrastructural development top priority 

From Ene Asuquo, Calabar 

The Cross River State governor, Bassey Edet Otu, has signed N538.5billion into law, declaring infrastructural development as a cornerstone of the administration’s agenda in the 2025 budget of the state.

The budget tittled: “Budget of Sustainable Growth” was signed into law by the governor in the presence of the Speaker of the State House of Assembly, Elvert Ayambem, who presented the budget for approval.

Otu, however 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 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. 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% 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.

Governor Otu 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,” he remarked.

Earlier in a remark, the 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. 

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

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.