The Cross River State Government has unveiled a Public-Private Partnership (PPP) investment package valued at over N70 billion and US$1.075 billion. 

Following approvals by the State Executive Council (ExCo), chaired by Governor Bassey Edet Otu, the state ratified 16 transformative projects is at accelerating industrial development, boosting sub-national revenue, and creating thousands of jobs across key economic sectors.

The approved project suite spans agriculture, clean energy, transportation, manufacturing, healthcare, tourism, and environmental infrastructure. 

Key projects include the Kereksuk Limited Rice Value Chain Development Project across Calabar, Odukpani, and Ogoja; the Valuefronteira Limited Oil Palm Project in Yala; a 100MW solar power project by Tee Pama Limited; and a N60 billion revitalisation of the Obudu Cattle Ranch, Utanga Lodge, and Bebi Airstrip by Living Curation Real Estate Limited. 

Additionally, the state ratified initiatives for electric vehicle manufacturing, statewide Compressed Natural Gas (CNG) infrastructure, a lithium battery assembly plant, and the Creek Town Industrial Park.

Governor Otu emphasised that the partnerships align with his administration’s “People First” agenda to build a production-driven economy rather than one reliant purely on consumption. 

ExCo directed the immediate establishment of project monitoring committees across all contracting ministries, departments, and agencies under the supervision of the Bureau of Public-Private Partnerships. 

The Ministry of Justice has been mandated to finalise all joint ventures, concessions, and ancillary legal agreements in strict adherence to the Cross River State PPP Law to guarantee transparency and investor certainty.

Source: This Day Live