Cross River State Governor, Bassey Otu, has disclosed that his administration has reduced the state’s domestic debt by more than ₦70 billion since taking office.
Otu made this known on Saturday in Calabar while inaugurating the All Progressives Congress Campaign Council for the 2027 general elections, stating that his government inherited massive debts, insecurity and a demoralised workforce in 2023.
He explained that his administration’s first-term priority was to address the state’s financial challenges, recover lost assets and establish a solid foundation for economic growth.
According to the governor, “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. ”
Otu also disclosed that the state’s internally generated revenue rose from ₦21.1bn in 2022 to ₦46.3bn in 2024, attributing the increase to stronger fiscal discipline and improved revenue collection.
“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,” he said.
Highlighting his administration’s achievements, the governor mentioned the recovery of Tinapa from the Asset Management Corporation of Nigeria, the retrieval of nearly ₦1bn from Etung Cocoa Estates, and ongoing efforts to reclaim the state’s oil wells and safeguard its interests in Bakassi and the proposed Deep Seaport.
He added that his government had lifted the employment embargo, reinstated more than 3,000 Local Government workers on the payroll and paid the first tranche of gratuities after nearly two decades.
On infrastructure, Otu highlighted the reconstruction of the Obudu Cargo Airport runway, the revival of the Teachers Continuous Training Institute in Biase and the transformation of the College of Education, Akamkpa, into the University of Entrepreneurship.
He further said his administration was prioritising agricultural development, particularly in cocoa, rice, potatoes, oil palm and cassava production, to strengthen food security and create employment opportunities in rural communities.
In the digital sector, the governor disclosed that more than 200 kilometres of fibre infrastructure had been deployed across Calabar, while over 600 residents had received ICT training.
He described the state’s selection by the World Bank GovTech Team for the 2026 AI in Governance and Public Administration Bootcamp in Seoul, South Korea, as recognition of its efforts to advance digital governance.
Speaking on his second-term priorities, Otu said his administration would focus on turning recovered assets into productive ventures, completing major infrastructure projects, expanding youth and agricultural enterprise initiatives, establishing industrial parks across the three senatorial districts and improving workers’ welfare.
He urged members of the campaign council to take the administration’s achievements to all 18 Local Government Areas and 196 wards, insisting that the 2027 election should be based on verifiable achievements and the state’s future.
“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.
Otu subsequently inaugurated the campaign council and charged its members to pursue an issue-based campaign focused on the development of Cross River State.