Cross River State Governor, Bassey Otu, has announced a remarkable reduction of over ₦70 billion in the state's domestic debt during his tenure, which began in 2023. This declaration was made on Saturday during the inauguration of the All Progressives Congress (APC) Campaign Council for the upcoming 2027 general elections in Calabar, the state capital.

Governor Otu revealed that when he took office, the state's domestic debt was over ₦204 billion. As of March 2026, this figure has significantly decreased without the state contracting any new loans. Otu emphasized that his administration's primary focus has been on stabilizing the economy, recovering lost assets, and laying a solid foundation for future growth.

"We inherited huge debts, but we have reduced them by ₦70 billion," Otu stated. He further highlighted that the state's internally generated revenue has also seen a substantial increase, rising from ₦21.1 billion in 2022 to ₦46.3 billion in 2024. This improvement, according to the governor, is a result of enhanced fiscal discipline and a proactive revenue drive.

In his address, Otu outlined several achievements of his administration, including the recovery of the Tinapa resort from the Asset Management Corporation of Nigeria and nearly ₦1 billion recovered from Etung Cocoa Estates. He also mentioned ongoing efforts to reclaim the state's oil wells and protect its interests in the Bakassi region, as well as the proposed Deep Seaport.

The governor noted that his administration has lifted the employment embargo, reinstating over 3,000 local government workers and paying the first tranche of gratuities after nearly two decades. On the infrastructure front, Otu highlighted key projects such as the reconstruction of the Obudu Cargo Airport runway and the transformation of the College of Education, Akamkpa, into the University of Entrepreneurship.

Additionally, Otu's government is investing in agriculture, focusing on crops like cocoa, rice, potatoes, oil palm, and cassava to enhance food security and create rural jobs. The administration has also deployed over 200 kilometers of fiber infrastructure in Calabar and trained over 600 residents in ICT, marking a significant step in the state's digital governance initiatives. Cross River was selected by the World Bank GovTech Team to participate in the 2026 AI in Governance and Public Administration Bootcamp in Seoul, South Korea, which Otu described as a recognition of the state's digital efforts.

Looking ahead, Otu outlined his agenda for a second term, which includes converting recovered assets into productive ventures, completing major infrastructure projects, expanding youth and agricultural enterprise programs, establishing industrial parks across the three senatorial districts, and improving workers' welfare.

In closing, he urged members of the campaign council to effectively communicate the administration's achievements to the 18 local government areas and 196 wards, emphasizing that the 2027 election should be based on facts and the future of Cross River State. Otu remarked, "Continuity is an attitude of maturity. You do not change a farmer who has cleared the farm just when it is time to plant. You do not abandon a builder who has laid the foundation when it is time to raise the roof."