September 27, 2023

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C’River Govt assures investors of conducive environment

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Cross River State governor, Senator Bassey Otu has assured investors of the readiness of his administration to provide conducive environment for investments.


Otu gave this assurance after signing a foreign direct investment of over €2.5 billion in the state.

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The governor who was represented by the SPAC Chairman, High Chief Eyo Etim Nyong, explained that the pacts were part of the first set of private sector investors being attracted to the state.

He said it was in a bid to make real his manifesto of offering the citizenry what he described as a ‘Season of Sweetness.”

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According to him, “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, SPAC Chairman, 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.

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