Otu Unveils $3.5bn Bakassi Seaport Deal in Cross River

On Tuesday, Sen. Bassey Otu, the Governor of Cross River State, received the Governor of the Year for Economic Revitalisation award from Blueprint Newspapers Limited at the Bola Ahmed International Conference Centre in Abuja. He credited his administration’s “People First Agenda” for revitalizing the state's economy, particularly through the reclamation of the Tinapa Business and Leisure Resort from the Asset Management Company of Nigeria (AMCON).

Otu announced plans to reposition Tinapa as a Free Zone for trade, tourism, and creative enterprises, with ongoing discussions with investors for its management. He also revealed a $3.5 billion facility from Afreximbank for the Bakassi Deep Seaport, which is recognized as a national asset under the Federal Government’s National Policy on Marine and Blue Economy.

Additionally, Otu discussed agricultural partnerships, including a project with JR Farms to plant 30 million coffee seedlings and the Cross River State Smallholder Cocoa Allocation Scheme, which has allocated over 3,400 hectares to cocoa farmers.