By Itam Offor
CALABAR (CONVERSEER) – As part of the budget process, the Cross River State House of Assembly Committee on Finance and Appropriation has interfaced with the State Economic Team.
The meeting which took place in the Assembly Complex in Calabar, had in attendance members of the Finance and Appropriation Committee as well as the State Economic Team members led by the Commissioner for Finance, Dr Michael Odere.
In his opening remarks, the Chairman, Committee on Finance and Appropriation, Hon. Cyril James Omini (Yakurr 1), stated that the interface with the Economic Team was part of the budget process and that it was aimed at finding out the philosophy behind the 2026 budget and other things before the commencement of budget defence by Ministries, Departments and Agencies (MDAs).
He further emphasised the need for all MDAs to attend the budget defence.
Other Members of the Finance and Appropriation Committee also inquired about the performance of the 2025 budget, measures put in place to attract foreign investors to the State amongst others.
Responding, the Commissioner for Finance, Dr Odere, said the 2026 budget is “purpose driven”, adding that its objective is to expand the State’s Economy. He reiterated the State Governor’s commitment to strengthening the State’s revenue base, driving human capital development and securing a prosperous, peaceful and resilient State.
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The Finance Commissioner further recalled that the proposed 2026 budget, tagged “Budget of Inclusive Growth”, with a size of N780.59 billion, marks a 17 per cent increase over 2025, with N519.6 billion (67%) earmarked for capital expenditure and 260.96 billion(33%) for recurrent spending. He maintained that the State’s economy is moving towards stability.
Similarly, the Chairman, Internal Revenue Service (IRS), Mr Edwin Okon, the SA budget, Mr Otu Otu and the State Economic Adviser Prof. Peter Oti intimated that the philosophy behind the 2026 budget is inclusive growth, which will have a direct impact on the people.
They emphasised that the proposed 2026 budget was very realistic while expressing optimism for more cash flow into the State in 2026.
