Cross River debt dropped by N70bn under my watch — Otu

File: Governor Bassey Otu of Cross River

Cross River State Governor, Bassey Otu, has said his administration reduced the state’s domestic debts by over ₦70 billion during his years in office.

Otu, who disclosed this on Saturday in Calabar, the state capital, while inaugurating the state’s All Progressives Congress Campaign Council for the 2027 general elections, said his government inherited huge debts, insecurity and a demoralised workforce on assumption of office in 2023.

The governor said his administration had focused its first term on stopping the bleeding, recovering lost assets and laying the foundation for economic recovery.

He said, “The state’s domestic debt profile stood at over ₦204 billion as of May 2023 when I assumed office, but this figure has now been reduced as of March 2026, without contracting fresh loans. We inherited huge debts, but we have reduced them by ₦70 billion. ”

He said the state’s internally generated revenue also improved from ₦21.1bn in 2022 to ₦46.3bn in 2024, attributing the growth to improved fiscal discipline and revenue drive.

“We did not promise all things in one year, but we covenanted to stop the bleeding, clear the ground, recover the losses and restore abandonments. Every debt retired is freedom for our children and house-cleaning for fresh fiscal air,” Otu said.

The governor listed some of his administration’s achievements to include the recovery of Tinapa from the Asset Management Corporation of Nigeria, recovery of nearly ₦1bn from Etung Cocoa Estates, and moves to reclaim the state’s oil wells and protect its interests in Bakassi and the proposed Deep Seaport.

He said his government lifted the embargo on employment, restored over 3,000 Local Government workers to the payroll and paid the first tranche of gratuities after almost 20 years.

• 2027: Uba Sani rallies support for Tinubu, Abbas in Kaduna
• Oluremi Tinubu supports 500 Cross River traders with cash, gifts
• Kaduna Igbo community endorses Uba Sani

On infrastructure, Otu cited the reconstruction of the Obudu Cargo Airport runway, revival of the Teachers Continuous Training Institute, Biase, and the conversion of the College of Education, Akamkpa, to the University of Entrepreneurship, among others.

He said his administration was also investing in agriculture, particularly cocoa, rice, potatoes, oil palm and cassava, to boost food security and rural jobs.

The governor said his government had deployed over 200 kilometres of fibre infrastructure in Calabar and trained over 600 residents in ICT, noting that the state’s selection by the World Bank GovTech Team for the 2026 AI in Governance and Public Administration Bootcamp in Seoul, South Korea, was recognition of its digital governance drive.

He said his second term agenda would focus on converting recovered assets into productive ventures, completing major infrastructure projects, expanding youth and agricultural enterprise programmes, establishing industrial parks across the three senatorial districts and improving workers’ welfare.

The governor charged members of the campaign council to take the administration’s achievements to the 18 LG areas and 196 wards, stressing that the 2027 election should be fought on facts and the future of the state.

“Continuity is an attitude of maturity. You do not change a farmer who has cleared the farm just when it is time to plant. You do not abandon a builder who has laid the foundation when it is time to raise the roof,” he said.

He formally inaugurated the council and urged members to conduct an issue-based campaign centred on the development of the state.