Liyel Imoke on Tinapa Revival Investment Challenges
Former Cross River State Governor, Senator Liyel Imoke, revealed in an interview with ARISE NEWS that the planned investment of ₦26 billion to ₦29 billion by the Asset Management Corporation of Nigeria (AMCON) to revive the Tinapa Business and Leisure Resort was unsuccessful due to unresolved infrastructure and regulatory conditions. Imoke explained that Cross River State conceded its interest in Tinapa to AMCON because it lacked the capital necessary for the revival.
He noted that the fundamental issues affecting the resort, such as the inadequacy of Calabar's airport and seaport, remained unchanged. Imoke criticized the initial conception of Tinapa, stating that the necessary commercial ecosystem and regulatory environment were not developed alongside the resort's construction.
He emphasized that the project depended on external factors like port infrastructure, road access, air connectivity, and tax incentives, which were beyond the state government's control.
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