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 election. 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, Governor Otu recalled that 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, stating 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, Governor Otu disclosed that his government had reduced the inherited domestic debt of more than N204 billion by over N70 billion without taking fresh loans. The outstanding debt now stands at approximately N132.3 billion as of March 2026. He also disclosed that internally generated revenue increased from N21.1 billion in 2022 to N46.3 billion in 2024.
The governor identified the recovery of strategic public assets as another major achievement. This includes the reclamation of Tinapa from the Asset Management Corporation of Nigeria (AMCON) and the recovery of nearly N1 billion from Etung Cocoa Estates and other public assets. Otu also highlighted ongoing efforts to reclaim the state's oil wells and secure its interests in the Bakassi axis and proposed Deep Seaport.
Governor Otu cited improvements in security, the lifting of the employment embargo, the restoration of more than 3,000 local government workers to the payroll, and the payment of the first tranche of gratuities after nearly two decades. He stated that the government is not just concrete but also the people, emphasizing the importance of human capital in the state's development.
On infrastructure and economic revitalisation, Governor Otu mentioned the reconstruction of the Obudu Cargo Airport runway, the revival of the Teachers Continuous Training Institute in Biase, and the transformation of Akamkpa College into the University of Entrepreneurship. He also pointed to road construction and rehabilitation, increased and expanded Cally Air fleet and operations, as well as the growing economic impact of Carnival Calabar.
Governor Otu argued that continuity is essential to consolidating the foundations already laid for sustainable development. He charged party leaders and campaign officials to take the administration's achievements to the electorate, insisting that completing inherited projects and sustaining viable investments are critical to the state's progress.
Key points
- Cross River State has reduced its domestic debt by N70bn.
- Internally generated revenue increased from N21.1bn in 2022 to N46.3bn in 2024.
- The state has recovered strategic public assets, including Tinapa and Etung Cocoa Estates.
