Home Business News Cross River  Signs €2.5bn Private Sector Investment Deals

Cross River  Signs €2.5bn Private Sector Investment Deals

In a bid to make real his manifesto of offering the citizenry a ‘Season of Sweetness,’ Cross River State Government  has signed foreign direct investment of over €2.5bn in the state

According to a statement, the pacts are part of the first set of private sector investors being attracted to the state.

The private sector investments are; €1.2bn urban waste management, €700m Calabar water treatment, management, and recirculation, as well as the €20m intra-city public transportation using Compressed Natural Gas (CNG) enabled vehicles.

Others are N10bn ICT skills development hub in Obanliku and N500m cassava cultivation and processing in Odukpani.

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Speaking after the sign-on ceremony, Chairman, State Policy Advisory Council SPAC, High Chief Eyo Etim Nyong, assured the investors of the readiness of the present administration to provide conducive environment for investment.

He appealed for a greater percentage of employment opportunities to Cross-Riverians, adding that as corporate organizations, they owe the state some corporate social responsibilities to contribute to other social services.

Nyong remarked that SPAC, as part of its functions, would continue to render advise on all projects, policies and programs aimed at impacting tremendously on the citizenry in line with the ‘people first,’ mantra of the Otu-led administration.

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The sign-on ceremony for the various investment portfolios took place at the office of the Secretary to the Cross River State Government, Prof Anthony Owan-Enoh, in Calabar.


In a related development, the Council also signed a memorandum of understanding with an investment consulting group, Zedo Haytch Group, from the United Arab Emirates to market the states’ investment opportunities in the Middle East.