Cross River Launches $1.075bn PPP Investment Initiative

The administration of Governor Bassey Edet Otu in Cross River State has unveiled a historic Public-Private Partnership (PPP) investment package valued at over US$1.075 billion, marking a significant shift from aspirations to actionable projects. The State Executive Council has approved 16 transformative projects designed to diversify the state's economy and reduce reliance on traditional public revenue sources.

These projects encompass agriculture, renewable energy, transportation, manufacturing, healthcare, infrastructure, and environmental sustainability. Governor Otu emphasized that these initiatives are structured partnerships aimed at job creation, industrial growth, and improved quality of life.

Key agricultural projects include the Kereksuk Limited Rice Value Chain Development Project and the Valuefronteira Limited Oil Palm Development Project, which aim to enhance food security and create agro-industrial enterprises. Additionally, a proposed 100MW solar power project by Tee Pama Limited will be developed across Calabar, Ikom, and Ogoja, further contributing to the state's economic transformation.