Clement James 
As part of the 2026 budget process, the Cross River State House of Assembly Committee on Finance and Appropriation on Tuesday met with the State Economic Team at the Assembly Complex in Calabar.
Chairman of the Committee, Cyril James Omini (Yakurr 1), said the interface was necessary to understand the philosophy and objectives behind the 2026 fiscal proposal before Ministries, Departments and Agencies (MDAs) begin their budget defence.
He stressed the need for full participation by all MDAs.
Committee members also sought clarification on the performance of the 2025 budget and measures being implemented to attract foreign investment into the state.
Responding, Commissioner for Finance, Dr. Michael Odere, described the 2026 budget as “purpose driven,” with a clear focus on expanding the state’s economy.
He reaffirmed Governor Bassey Otu’s commitment to strengthening revenue generation, boosting human capital development and ensuring a prosperous, peaceful and resilient Cross River.
Dr. Odere noted that the proposed 2026 budget, tagged Budget of Inclusive Growth, is valued at ₦780.59 billion, representing a 17 per cent increase from 2025. Of this figure, ₦519.6 billion (67%) is allocated to capital expenditure, while ₦260.96 billion (33%) is earmarked for recurrent spending. He added that the state’s economy is gradually moving towards stability.
Chairman of the Internal Revenue Service (IRS), Mr. Edwin Okon; Special Adviser on Budget, Mr. Otu Otu; and the State Economic Adviser, Prof. Peter Oti, all agreed that the core philosophy of the 2026 budget is inclusive growth with direct benefits to citizens.
They expressed confidence that the proposal is realistic and that the state will experience improved cash flow in 2026.
