The Cross River State Government has approved 16 major investment projects worth more than N70 billion and $1.075 billion (over N1.6 trillion) through a Public-Private Partnership (PPP) arrangement. This means private companies will work together with the state government to develop important projects across the state instead of the government providing all the money alone.
Governor Bassey Otu said the projects are aimed at creating jobs, improving businesses, increasing the state's income and making Cross River one of the best places for investment in Nigeria.
What projects were approved?
The approved projects include:
- Rice farming and processing in Calabar, Odukpani and Ogoja.
- Large oil palm plantations in Yala.
- A 100-megawatt solar power project in Calabar, Ikom and Ogoja.
- A modern fishing port and fisheries project.
- Dairy, livestock and fishing projects in Odukpani.
- Electric vehicle manufacturing.
- Compressed Natural Gas (CNG) stations across the state.
- A new state transport company.
- Creek Town Industrial Park.
- Modern diagnostic healthcare centres.
- Better waste management facilities.
- Major investments in Obudu Ranch, Utanga Lodge and Bebi Airstrip.
- Rehabilitation of the Adiabo Gas Power Plant.
- A lithium battery assembly plant.
What does this mean for ordinary Cross River people?
If these projects are successfully implemented, many people could benefit in different ways.
Farmers may have better markets for their rice, oil palm, milk, fish and livestock. Young people could find employment in factories, construction sites, transport services and renewable energy projects.
Small business owners may also benefit because more workers and industries usually create more demand for food, transport, housing and other services.
The planned solar power project and rehabilitation of the Adiabo Power Plant could also improve electricity supply for businesses and industries over time. Better electricity can help reduce business costs and encourage more companies to invest in Cross River.
Why is the government using PPP?
A Public-Private Partnership (PPP) means the government partners with private investors who provide much of the money, technical knowledge and management needed to execute large projects.
Instead of depending only on government funds, private companies invest their money and recover it according to agreements signed with the government. This approach is often used for expensive infrastructure and industrial projects.
Will the projects start immediately?
Not yet.
The Executive Council has directed the Ministry of Justice to prepare all legal agreements, while project monitoring committees will also be established to ensure transparency and proper implementation.
This means approval has been given, but the real test will be whether the projects are completed and eventually benefit the people of Cross River State.
Boki Blog Africa's View
The announcement is one of the biggest investment plans approved by the Cross River State Government in recent years. However, many residents will judge its success not by the figures announced but by visible results such as new jobs, improved roads, reliable electricity, functioning industries, better healthcare services and stronger economic opportunities across the state.
For now, Cross Riverians will be watching closely to see how many of these approved projects move from paper to reality.
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