Cross River State Governor, Senator Bassey Otu, has presented his administration's achievements in debt reduction, asset recovery, infrastructure renewal, and public service reforms. He made this presentation in Calabar while inaugurating the Cross River State All Progressives Congress (APC) Campaign Council for the 2027 general elections. Otu declared that a second term would propel the state from economic recovery to wealth creation and shared prosperity.
Reflecting on the circumstances surrounding his assumption of office in May 2023, Otu said the state was grappling with insecurity, a demoralised public service, and underutilised public assets. He described the administration's first phase as one of recovery and restoration, noting that they did not promise all things in one year but covenanted to stop the bleeding, clear the ground, recover the losses, and restore abandonments.
On fiscal management, Otu stated that his government had reduced the inherited domestic debt of more than ₦204 billion by over ₦70 billion without taking fresh loans. As of March 2026, the outstanding debt stood at approximately ₦132.3 billion. He also disclosed that internally generated revenue increased from ₦21.1 billion in 2022 to ₦46.3 billion in 2024.
The governor identified the recovery of strategic public assets as another major achievement. He cited the reclamation of Tinapa from the Asset Management Corporation of Nigeria (AMCON) and the recovery of nearly ₦1 billion from Etung Cocoa Estates and other public assets. Otu also mentioned ongoing efforts to reclaim the state's oil wells and secure its interests in the Bakassi axis and proposed Deep Seaport.
Otu charged party leaders and campaign officials to take the administration's achievements to the electorate, insisting that continuity was essential to consolidating the foundations already laid for sustainable development. He expressed confidence that his administration's progress would be sustained and built upon in the future.
The governor's presentation highlighted the administration's commitment to transparency and accountability. By sharing its achievements, the government aims to demonstrate its dedication to the welfare of the people and the development of the state. Otu's efforts to engage with the electorate and party officials underscore the importance of collaboration in achieving the state's goals.
Key achievements of the Otu administration include a reduction of ₦70 billion in domestic debt, an increase in internally generated revenue, and the recovery of strategic public assets. These accomplishments demonstrate the government's commitment to fiscal responsibility and sustainable development.
Key points
- The Cross River State government has reduced its domestic debt by ₦70 billion.
- The state's internally generated revenue has increased from ₦21.1 billion in 2022 to ₦46.3 billion in 2024.
- The administration has recovered strategic public assets, including Tinapa and nearly ₦1 billion from Etung Cocoa Estates.
