By Musa Muhammad Kutama, Calabar
The Cross River State Government has approved a landmark Public-Private Partnership (PPP) investment package worth over ₦70 billion and US$1.075 billion, covering 16 strategic projects aimed at accelerating industrialisation, attracting private investment and creating thousands of jobs across the state.
The approvals were granted during the State Executive Council (ExCo) meeting presided over by Governor Bassey Otu, who described the decision as a major milestone in his administration’s drive to transform Cross River into one of Nigeria’s foremost investment destinations.
Governor Otu said the projects represent carefully structured partnerships designed to stimulate economic growth, expand the state’s revenue base and improve the living standards of residents.
According to him, the investments are central to his administration’s vision of building a production-driven economy through sustainable partnerships with the private sector.
The approved projects span agriculture, renewable energy, transportation, manufacturing, healthcare, infrastructure and environmental sustainability.
They include the Kereksuk Limited Rice Value Chain Development Project in Calabar, Odukpani and Ogoja; the Valuefronteira Limited Oil Palm Development Project in Yala; a 100-megawatt solar power project by Tee Pama Limited across Calabar, Ikom and Ogoja; the Calabar Fishing Port and Fisheries Development Project; the Odukpani Dairy, Livestock and Trawler Fishing Project; electric vehicle manufacturing; statewide Compressed Natural Gas (CNG) infrastructure; the State Transport Company PPP; Creek Town Industrial Park; healthcare diagnostic centres; municipal waste management facilities; a ₦60 billion investment in Obudu Cattle Ranch, Utanga Lodge and Bebi Airstrip by Living Curation Real Estate Limited; the rehabilitation of the Adiabo Gas-Fired Power Plant; and a lithium battery assembly plant.
Governor Otu said the investments were selected based on their potential to diversify the state’s economy and attract long-term private capital.
“We are deliberately building an economy that is driven by production rather than consumption. Our vision is to transform Cross River into a competitive hub for agriculture, clean energy, manufacturing, logistics and the blue economy,” the governor said.
He added that the projects would generate thousands of direct and indirect jobs, strengthen food security, encourage technology transfer and significantly boost the state’s Internally Generated Revenue (IGR).
“Our young people deserve opportunities, not promises. Every investment approved today is designed to create employment, stimulate enterprise and deliver sustainable prosperity across our communities,” he stated.
To ensure transparency and effective implementation, the Executive Council approved a governance framework requiring all contracting Ministries, Departments and Agencies (MDAs) to establish Project Monitoring Committees through the Bureau of Public-Private Partnerships.
The committees are expected to submit quarterly performance reports to the State PPP Council.
Governor Otu also directed the Ministry of Justice to prepare and conclude all necessary legal agreements, including Joint Venture Agreements and Concession Agreements, in line with the Cross River State Public-Private Partnership Law.
He stressed that strict adherence to due process and global best practices would provide confidence for investors while ensuring value for the people of Cross River.
The administration believes the investment package will strengthen Cross River’s position as a preferred destination for domestic and foreign investment, while advancing sustainable development through strategic private-sector partnerships across key sectors of the economy.
