Cross River Assembly Has Approved ₦642bn Supplementary Budget for 2025 Fiscal Year

The Cross River State House of Assembly has approved a supplementary budget of ₦642.16 billion for the 2025 fiscal year, marking a significant boost to the state’s financial plan.

The approval, which came during Tuesday’s plenary, reflects Governor Bassey Otu’s push for accelerated infrastructural development, social welfare programmes, and strategic economic investments across all 18 local government areas.

Lawmakers say the move will help address emerging needs not captured in the original budget, while leveraging improved revenue prospects.

This follows the initial budget of ₦538.52 billion passed in December 2024 under the “Budget of Sustainable Growth.”

The revised budget reflects a ₦142.03 billion (26%) increase, aimed at accelerating infrastructural development across the state’s 18 local government areas.

Chairman of the House Committee on Finance and Appropriation, Hon. Okon Nyong Owuna, said the extra funds will cater to urgent expenses, new projects, and key sectors such as administration, economy, justice, and social development, backed by improved revenue from IGR, grants, and FAAC allocations.

Speaker Rt. Hon. Elvert Ayambem assured that the revised budget prioritises citizens’ welfare with transformative projects statewide.