C'River Govt Reiterates Support For Private Initiatives ... As SUKUK Pledges N100bn Annual Investment To Boost Development
Hannah ARIKPO
ln line with efforts to transform the state into an investment hub, the Cross River Governor, Senator Prince Bassey Otu has re-reiterated it's commitment to encourage private Initiatives that will scale up establishment of developmental projects in the state.
Gov. Otu, represented by the Secretary to the state government, Prof. Anthony Owan - Enoh made the remark during an Investors round table organized by the founder and CEO, Opal Group of Companies, High Chief Peter Higgins at the Mega Hilton Hotel, Calabar.
He explained that the forum which was designed to provide a platform for investors to outline their plans and areas of interest for effective collaboration so as to turn around the economic fortunes of Cross River.
" Cross River is not only an agrarian state but is abound with numerous natural resources capable to catalyze growth through capital importation of foreign direct investments", Otu disclosed.
An Investor, the Managing Director of Trust Arthur, Dr Basheer Oshodi, while speaking on behalf of other investors pledged a one hundred billion naira annual investment fund to tackle the much desired massive development projects among other ventures in the state.
Oshodi, a SUKUK expert and financial advisor, expressed excitement over it's investing in Cross River State, aligning with projects deemed worthwhile.
"As the country's fund managers for Sukuk and Shelter Afrique projects, Sukuk will be willing to give Cross River State N100 billion annually for the various projects of priorities on meeting the Sukuk guidelines", Oshodi assured.
Bong Duke, representing the government, disclosed that more than 150,000 hectares of land were earmarked for rice farming, with an additional 100,000 hectares dedicated to cassava production.
He emphasized a transformative approach, urging investors to perceive the state as an opportunity beyond Nigeria.
Rt. Hon. Elvert Ayambem, at the roundtable, assured investors of the Assembly's commitment to expeditiously process legislations supporting investment, trade, and revenue generation.
Representing Chinese-owned companies, Mr. David Gowa conveyed their readiness to engage in agriculture and construction, particularly in hydropower generation, aiming to propel Cross River State to the next level.
Mike Odere, the Commissioner for Finance, reassured attendees of abundant investment opportunities within the state while a former Minister of tourism, High Chief Edem Duke commended Governor Otu's economic initiatives, extending appreciation to High Chief Higgins for facilitating the meeting.
