Cross River Launches $1.075bn PPP Investment Package

The Cross River State Government has unveiled a historic Public-Private Partnership (PPP) investment package valued at over N70 billion and US$1.075 billion, following the approval of 16 transformative projects by the State Executive Council (ExCo). Governor Edet Otu stated that these approvals mark a significant step in repositioning Cross River as a competitive investment destination.

The projects encompass agriculture, renewable energy, transportation, manufacturing, healthcare, infrastructure, and environmental sustainability. Notable projects include the Kereksuk Limited Rice Value Chain Development Project, Valuefronteira Limited Oil Palm Development Project, a 100mw Solar Power Project by Tee Pama Limited, and a lithium battery assembly plant.

Governor Otu emphasized that these investments aim to create thousands of jobs, enhance food security, and boost the state's revenue. He reiterated his administration's commitment to fostering an environment conducive to private capital while focusing on economic diversification and sustainable growth.