Critical Analysis of Benefit-Cost Ratio Application in Public Infrastructure Investment Decisions in Cross River State

Benefit-cost ratio (BCR) analysis is a fundamental tool for public investment decision-making, yet its rigorous application in Nigerian state-level infrastructure project selection is inconsistent. This study critically analyzes BCR application in public infrastructure investment decisions in Cross River State, South South Nigeria. A mixed-methods design will review official appraisal documents from 15 public infrastructure projects completed between 2018 and 2024 in road, water, and health sectors, supplemented by structured interviews with 25 planning officers, economists, and project directors at the Cross River State Planning Commission. Document review will assess BCR methodology quality, discount rate selection, externality inclusion, and sensitivity analysis use. Interview data will explore practical challenges in BCR application using thematic analysis. Evidence from Nigerian public investment planning indicates that project selection is frequently driven by political priorities rather than rigorous economic appraisal. Findings will provide recommendations for improving the quality of investment appraisal at Cross River State's planning commission. Keywords: benefit-cost ratio, public investment, infrastructure appraisal, Cross River State, project selection