The Cross River State Businessmen’s Forum (CRBF), an association of prominent business leaders in the state and in the diaspora, has commended the Governor of Cross River State, Senator Bassey Edet Otu, for what it described as prudent financial management, fiscal discipline and strategic leadership.
The forum, in a statement signed by its President, High Chief Henry Onwe, said the administration’s financial management efforts had contributed to a significant reduction in the state’s domestic debt stock from N220.2 billion in December 2023 to N132.3 billion as of the first quarter of 2026.
According to the forum, the reduction represents a N87.9 billion decline in the domestic debt stock over the period.
The statement referenced data from the Debt Management Office (DMO), noting that Cross River State had entered the current administration with a substantial domestic debt burden which, according to the forum, had constrained economic activities and placed pressure on government finances.
The businessmen said the debt burden had affected commercial activities, limited the resources available for development and weakened investor confidence in the state.
The forum, however, expressed optimism that the reduction in the state’s debt profile would improve Cross River’s fiscal position, strengthen investor confidence and create greater fiscal space for the implementation of development projects and programmes.
Onwe said the development was particularly significant for the business community, arguing that a more sustainable debt profile could provide a more favourable environment for private sector investment and economic growth.
He urged Cross Riverians to recognise what he described as the administration’s achievements in infrastructure, human capital development and wealth creation.
The forum also linked its assessment of the governor’s performance to the 2027 general elections, calling on its members and other Cross Riverians to support the All Progressives Congress (APC).
“For a Governor who has brought us thus far in infrastructure, human capital development and wealth creation, we need to give him our support and appreciation and encourage him to deliver more for the people in the years ahead,” Onwe stated.
He added that the forum remained committed to supporting Governor Otu and other APC candidates in the 2027 elections.
“We reassure our Governor, His Excellency, Senator Bassey Edet Otu, that we are solidly behind him and will deliver our bloc votes for him, President Bola Ahmed Tinubu, National Assembly members and State Assembly members,” he said.
The forum called on residents across the state to support what it described as excellence, hard work and good governance, while urging them to back Governor Otu for a second term in office.
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