Gov Otu presents N498bn 2025 budget proposal to Cross River Assembly

The Cross River State Governor, Bassey Otu, on Tuesday, presented a 2025 budget proposal of N498 billion to the State House of Assembly.

In his remark at the forum, the governor said the sum of N328 billion, or 68 percent of the total budget size was allocated to capital expenditure, and N170 billion representing about 34 percent for recurrent expenditure.

The sectoral allocations of the budget are as follows:

i. Infrastructure – N100 billion

ii. Education – N81 billion,

iii. Health – N25 billion

iv. Judiciary -N20 billion,

v. House of Assembly – N 18 billion

vi. Aviation – N16 billion

vii. Special duties/intergovernmental affairs – N15 billion

Otu said the major revenue sources would be from federal allocations, grants from international organisations, and Internally Generated Revenue (IGR).

READ ALSO: Gov Otu signs N296.9bn 2024 budget in Cross River

He noted that the budget was benchmarked on the Sustainable Development Goal (SDG) to ensure the continuity of projects not completed in the current budget circle.

“Consequently, the initial budget provision for specific projects needed to be increased due to built-in inflation.

“To maneuver this stormy economic situation, we had to scale down on several projects earmarked for implementation while prioritising critical sectors that directly impacted the citizenry,” the governor stated.

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