From Musa Muhammad Kutama, Calabar
Cross River State Governor, Senator Bassey Otu, has signed a strategic partnership agreement with Pana Holdings to unlock the state’s vast gas and solid mineral deposits in a bid to drive industrialisation, job creation and sustainable economic growth.
The pact, signed at the State Executive Council Chamber in Calabar, is expected to position Cross River as a regional hub for energy, mining and industrial development through public-private partnerships.
Speaking at the ceremony, Otu said the initiative reflected his administration’s resolve to harness the state’s abundant natural resources in a sustainable manner.
He said, “Government alone cannot deliver development. There has to be strong private sector participation, and this pact is one of the bold steps we are taking to ensure energy security, food security and a more productive economy.”
The governor commended President Bola Tinubu for what he described as an enabling policy environment under the Renewed Hope Agenda, adding that the new economic direction was a “courageous departure” from years of “freeloading” that weakened the nation’s economy.
He assured Pana Holdings and other prospective investors of a peaceful and business-friendly environment, while pledging that transparency, accountability and visible outcomes would guide the partnership.
In a presentation titled Unlocking Cross River State’s Gas and Solid Minerals Potential, the Group Chief Executive Officer of Pana Holdings, Dr. Daere Akobo, said the state holds two of Nigeria’s greatest untapped opportunities — vast gas reserves estimated at 35 trillion cubic feet and rich deposits of solid minerals such as limestone, barite, gold, granite, quartz, manganese and rare earth metals including cerium and lanthanum.
According to him, the resources could power industries, create jobs and transform Cross River into a regional hub for energy and mining. He said responsible exploitation would be achieved through data acquisition, reserve certification and phased field development.
Akobo added that the partnership would expand access to affordable, cleaner energy, drive infrastructure delivery through public-private collaboration, generate employment and boost indigenous skills.
He urged the state government to sign a Joint Venture Company with CALA Infra for gas infrastructure and solid minerals development, form a joint working group with regulators, secure a presidential visit and embark on an international roadshow to attract funding and partnerships.
He also called for support in launching an indigenous skills acquisition programme and activating a Nigerian digital wingspan for Cross River State.