Cross River Governor Allocates N5 Billion for Governor’s Office Renovation Amid Economic Hardship
Calabar, Cross River State, Nigeria –
In a surprising move amidst Nigeria’s economic challenges, Cross River State Governor Bassey Otu has announced a staggering allocation of N5 billion for the renovation of the state governor’s office in Calabar, the state’s capital.
Governor Otu disclosed this during a press interaction on Friday, expressing his desire to transform the governor’s office into a symbol of the state’s pride and progress.
Governor Otu emphasized the importance of the governor’s office as a representation of the state’s stature and potential for investors. He also unveiled plans to revamp all state liaison offices in key cities like Abuja and Lagos to reflect the same standard, further highlighting the state’s commitment to attracting business investments.
“I will not hesitate to invest in making the governor’s office a true symbol of our state,” stated Governor Otu. “Creating an environment that is conducive to business and reflects our values is essential. Filthy surroundings and substandard architecture can deter potential investors.”
The governor pledged full transparency in the renovation process, estimating the cost to fall between N3 to N5 billion. However, he noted that the initial work was being carried out pro bono by contractors.
This announcement comes against the backdrop of economic hardships facing Nigerians, exacerbated by the removal of fuel subsidies and soaring inflation rates. Recently, Nigeria’s inflation surged to a staggering 25.80%, marking the eighth consecutive increase in 2023. These figures were revealed in the Consumer Price Index (CPI) report for August 2023, released by the National Bureau of Statistics on the same day as Governor Otu’s announcement.
The report highlighted the grim reality of rising food prices, with the food inflation rate reaching 29.34% in August 2023, a significant increase from the previous month’s 26.98%. This surge was attributed to price hikes in various food categories, including oil and fat, bread and cereals, fish, fruit, meat, vegetables, and more.
On a month-to-month basis, the food inflation rate for August 2023 registered at 3.87%, a 0.41% increase from July 2023. The annual rate of food inflation for the twelve months ending August 2023 stood at 25.01%, reflecting a 5.99% increase compared to the same period in the previous year.
Governor Otu’s commitment to renovating the governor’s office amid these economic challenges raises questions and discussions among Cross River State residents and observers nationwide about the priorities of public spending in such trying times.