CROSS RIVER GOV RELEASES N498BN 2025 BUDGET

October 29, 2024

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Senator Bassey Otu, the governor of Cross River State, gave the State House of Assembly in Calabar a proposed N498 billion budget for the 2025 fiscal year on Tuesday. The budget is called the “Sustainable Growth Budget.”

While N170 billion (34%) is set aside for recurring spending, N328 billion (66%) is designated for capital expenditure, according to the breakdown presented by Otu.

He pointed out that the budget supports some SDGs, such as industry and innovation, quality education, good health and well-being, peace and justice, and zero hunger.

Otu stated, “The 2025 budget is designed around the SDG benchmarks to ensure continuity of key projects and programmes that require rollover into the new fiscal year.”

He explained that the budget reflected the goals of the people of Cross River and was the result of lengthy consultations.

Elvert Ayambem, the speaker of the Cross River House of Assembly, said he is confident the budget would spur significant progress throughout the state.

He praised Otu’s administration for its accomplishments, which included paying civil personnel their salaries and gratuities on a regular basis.