One year Anniversary in office: Otu Highlights economic value

Cross River State Governor, Senator Bassey Otu, has declared that his administration, within one year in office, has been able to lay a solid foundation for a strong economy in the state.

Speaking in a statewide address to the people, he reflected on his administration’s achievement in various sectors, including education, infrastructure, digital innovation, agriculture, health, and economic development.

He highlighted efforts to revitalise the state’s economy, improve infrastructure, enhance security, promote agriculture, and strengthen healthcare services.

The Governor also emphasises the importance of continuity in governance and the need for sustainable development initiatives.

He said efforts were made to regain lost state assets of the state such as Tinapa, Oban Palm Plantation and Akamkpa Rubber Plantation, among others.

Moreover, he said efforts are geared to enhance digital infrastructure for economic growth and efficiency in governance.

To address the need for energy security, he disclosed that the State government is bidding for the Odukpani Power Plant and desires joint ownership of the UNIDO Power Plant in Obudu.

In the words of the Governor, “The immediate impact of all these innovations is the growth of IGR from N20.5 Billion in 2022 to N30.8 Billion in 2023, representing an increase of 50.24 %.”

“It also grew by 60.6% or N22.6 Billion from June 2023 to N36 Billion in May 2024. N16.3 Billion was recorded between January 2024 and May 2024 from the initial N10.5 Billion during the same period in 2023, representing a 55% growth.”

“During the same period, the State moved from its permanent 28th position to being among the first 10 States in accountability index, through its timely delivery of records to relevant authorities.”
The Governor’s address touched on various sectors of the economy. It acknowledged that Cross River State is currently only second to Lagos State in the prospective advancement index, which considers the State’s potential resources and organisational plans.

Nsa Gill
Chief Press Secretary to the Governor