By Itam Offor
The Cross River State House of Assembly has passed the sum of N961.624 billion as budget for the 2026 fiscal year.
The House increased the budget from N780.590 billion earlier proposed by Governor Bassey Otu to N961.624 billion.
The budget has N671.272 billion as Capital Expenditure while Recurrent Expenditure stands at N290, 351 billion.
The budget, which provides the legal framework for government spending in the 2026 fiscal year, focuses on Infrastructure, Education, Healthcare, Transportation and Agriculture and will take effect upon assent by Governor Otu.
Before passing the Appropriation Bill, the House had deliberated on the report of the House Committee on Finance and Appropriation presented by the Chairman, Hon Cyril James Omini.
The report, amongst other recommendations, emphasized the need for budgetary releases to be given top priority in 2026 fiscal year to enable MDAs carryout Capital projects to enhance their performance, collaboration between Miners and Mining Communities to ensure revenue generation and peace as well as the revival of Songhai Farms.
The report also indicates that the 2026 budget will be funded through; Government Share of FAAC, Independent Revenue, Aids and Grants as well as Capital Development Fund.
The Leader of the House, Rt Hon Francis Bassey Asuquo described the budget as a ” People’s First Budget”.
In separate contributions, Members commended the Governor for spreading projects across all the Local Government Areas of the State.
They also commended the Finance and Appropriation Committee for being thorough during the budget process.
Following a unanimous vote in favour of the passage, the Speaker, Rt Hon Elvert Ayambem declared the budget passed.
Ayambem directed the Clerk of the Assembly, Barr Catherine Ubi to prepare a clean copy of the bill to be forwarded to the Governor for his assent.
It would be recalled that the State Governor, on October 28, presented a budget proposal of N780.590 billion to the House for the 2026 fiscal year tagged “Budget of Inclusive Growth”.
