Cross River debt dropped by N70bn under my watch — Otu
AI Executive Briefing
Verified Synthesis~36s readFile: 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.
Context & Background
- ✦The governor said his administration had focused its first term on stopping the bleeding, recovering lost assets and laying the foundation for economic recovery.
Key Figures & Named Entities
₦70 billion: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.Saturday: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 2023.2023: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.
Outlook & Next Steps
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Key Takeaways
Verified Extract- 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.
Key Facts:₦70 billion: 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.Saturday: 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 2023.2023: 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.2022: 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.
Editorial Excerpt
Cross River State Governor, Bassey Otu, says his administration has reduced the state’s domestic debt by over ₦70 billion since assuming office in 2023.
Frequently Asked Questions About This Story
What is the latest development regarding Cross River State?
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.
Who are the key organizations or public figures mentioned?
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.
What timeline or key figures were confirmed?
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.
