The Cross River State Government has unveiled a public-private partnership (PPP) investment package worth more than ₦70 billion and $1.075 billion to accelerate industrialisation, create jobs and attract private investment across the state.
The investment package comprises 16 strategic projects spanning agriculture, renewable energy, transportation, manufacturing, healthcare, infrastructure and environmental sustainability, underscoring the state’s drive to position itself as a leading investment destination.
The projects were approved during a meeting of the State Executive Council chaired by Governor Bassey Otu, who described the initiative as a major milestone in his administration’s economic transformation agenda.
According to the governor, the projects are designed to unlock employment opportunities, stimulate industrial growth, expand the state’s revenue base and improve the quality of life of residents.
“This is another defining moment in our determination to reposition Cross River as Nigeria’s foremost investment destination. These are not mere proposals on paper but carefully structured partnerships that will unlock jobs, stimulate industrial growth, expand our revenue base and improve the quality of life of our people,” Otu said.
He said his administration remains committed to creating an enabling environment for private investment while ensuring that the benefits of the projects are felt by residents.
Among the approved projects are 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 across Calabar, Ikom and Ogoja; the Calabar Fishing Port and Fisheries Development Project; the Odukpani Dairy, Livestock and Trawler Fishing Project; an electric vehicle manufacturing plant; statewide Compressed Natural Gas (CNG) infrastructure; and a public-private partnership arrangement for the state transport company.
Other projects include the Creek Town Industrial Park, healthcare diagnostic centres, municipal waste management facilities, a ₦60 billion investment in the Obudu Cattle Ranch, Utanga Lodge and Bebi Airstrip, the rehabilitation of the Adiabo Gas-Fired Power Plant, and a lithium battery assembly plant.
Otu said the investments form the cornerstone of his administration’s industrialisation agenda and are expected to deepen economic diversification while attracting long-term private capital into the state.
“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,” he said.
The governor added that the projects are expected to generate thousands of direct and indirect jobs, strengthen food security, promote technology transfer and boost the state’s Internally Generated Revenue (IGR).
To ensure transparency and accountability, the Executive Council also approved a governance framework for implementing the projects. Under the arrangement, Project Monitoring Committees will be established by the relevant Ministries, Departments and Agencies through the Bureau of Public-Private Partnerships, with quarterly performance reports submitted to the State PPP Council.
The council also authorised the Ministry of Justice to prepare and conclude all legal agreements required for the execution of the projects, with Otu directing that every transaction must comply with the provisions of the Cross River State Public-Private Partnership Law.