Edwin Sabe
The Cross River State House of Assembly Committee on Finance and Appropriation has commenced scrutiny of the proposed ₦987.81 billion 2027 budget, engaging the state economic team ahead of budget defence by Ministries, Departments and Agencies (MDAs).
The interactive session, held at the assembly complex in Calabar, was aimed at examining the economic assumptions and policy direction underpinning the proposed budget.
Chairman of the committee, Cyril James Omini, who represents Yakurr I State Constituency, said the meeting was necessary to enable lawmakers to understand the philosophy behind the budget before the commencement of the MDA defence exercise.
Omini emphasized the need for full participation by all MDAs, assuring that the committee would conduct a thorough review of their budgetary proposals to ensure accountability, value for money and alignment with the “People First” administration’s agenda.
During the session, lawmakers sought clarification on the performance of the 2026 budget, foreign investment strategies, revenue generation, debt management and the status of ongoing capital projects across the state.
Responding, the Commissioner for Finance, Dr. Michael Odere, described the 2027 budget as purpose-driven, with a focus on expanding the state’s economy and consolidating the achievements of the Senator Bassey Edet Otu’s administration.
Odere disclosed that the proposed budget stands at ₦987.81 billion, with ₦708.43 billion, representing 71.72 per cent, allocated to capital expenditure, while ₦279.38 billion, or 28.28 per cent, is earmarked for recurrent expenditure.
He noted that the proposal represents a significant increase over the 2026 budget, expressing confidence that the state’s economy would continue on the path of stability and growth.
The commissioner also reaffirmed the governor’s commitment to broadening the state’s revenue base, promoting human capital development and building a prosperous, peaceful and resilient Cross River State.
Also speaking, Chairman of the Cross River State Internal Revenue Service, Mr. Edwin Okon, alongside the Special Adviser on Budget and the State Economic Adviser, said the proposed budget was anchored on consolidation for sustainable growth and development.
They described the budget as realistic and expressed optimism that the state would record improved revenue inflows in 2027.
The engagement forms part of the assembly’s legislative process towards ensuring that the 2027 budget reflects the economic priorities and developmental needs of Cross River State.
