FEC’S $4.29BN PPP APPROVAL POSITIONS CROSS RIVER FOR STRATEGIC GROWTH, SAYS CHIEF WHIP, BISONG
Judex OKORO
The Chief Whip of the Cross River State House of Assembly, Rt. Hon. Chief Hilary Bisong, has described the Federal Executive Council’s approval of over $4.29bn in Public-Private Partnership (PPP) investments as Nigeria’s commitment to bold economic reform, infrastructure renewal, and sustainable growth.
Bisong said the approval represents a clear shift toward long-term development planning anchored on private-sector participation and strategic public investment.
According to him, the investment reflects the visionary leadership of President Bola Tinubu, whose Renewed Hope Agenda continues to restore investor confidence, unlock private capital, and reposition Nigeria as a credible and competitive player in global trade and development.
Central to the approved PPP projects is the Bakassi Deep Seaport, described as a project of immense national and regional importance. Conceived as a modern deep-water port capable of handling large commercial vessels.
The seaport is strategically designed to decongest existing ports, strengthen Nigeria’s maritime capacity, and serve as a critical logistics gateway for international commerce.
Beyond shipping activities, the project is expected to catalyze industrial clusters, enhance export competitiveness, and integrate Nigeria more firmly into global value chains.
commending Cross River Governor,Bassey Edet Otu, for his steady leadership and strategic commitment to economic revitalization, the Chief Whip said under Governor Otu’s administration, the state has deliberately aligned itself with national development priorities, actively engaging investors and development partners to ensure that the Bakassi Deep Seaport transitions from vision to reality.
According to him, "the project is expected to generate jobs for youths, expand markets for farmers and manufacturers, increase revenue streams, and renew economic hope for coastal communities.
"By unlocking the blue economy and strengthening non-oil exports, the seaport directly supports Nigeria’s economic diversification agenda while promoting inclusive growth for Cross River State and the wider South-South region.
"The synergy between the Federal Government’s economic reforms and the Cross River State Government’s development vision demonstrates that the future is being deliberately and responsibly built."
He reaffirmed the unwavering commitment of the Cross River State House of Assembly to supporting policies that advance strategic infrastructure, protect public interest, and secure lasting prosperity.
