Cross River and Governor Otu’s investment drive
By Michael Jegede
Since Senator Bassey Edet Otu assumed office as the governor of Cross River State on May 29, 2023, he has left no one in doubt about his determination to make Cross River State an attractive investment destination for local and foreign investors.
Otu, viewed by many as a pragmatic and purposeful leader, in pursuit of the realization of his plan to create investment opportunities that will ensure a better today and a brighter future for Cross River State, recently organised the ‘Executive Governor’s Roundtable’ with diplomats and development partners.
The roundtable, aimed at building a strong collaborative relationship with the diplomatic community and development partners towards a mutually beneficial future, was held under the theme “Building cooperation for a better today and a resilient future”. It had in attendance ambassadors and heads of missions of various countries, captains of industry, policymakers, representatives from different sectors, members of the National Assembly, top government functionaries from Cross River State and other key stakeholders.
The governor who reportedly said the Cross River State government was targeting nine billion dollars to be injected into its economy by 2031, had observed at the roundtable that “The economies of the world are growing in interconnectedness due to globalization, making for increased wealth creation opportunities and fluidity in investment and cooperation funds. The State is thus making frantic efforts to position its economy to take advantage of this increased mobility of corridor globally. Cross River State, also known as the People’s Paradise, is home to a constantly evolving economy with strong history as one of the most flourishing States for regional trade and diversified economy based on abundant resources, with a strong commitment towards sustainable economic, environmental and social development.
“The State’s fast growing economy reflects its strategic location with arable land suitable for variety of crops, vast deposits of diverse solid minerals, beautiful mountains and forest, hospitable people with a reputation as one of the safest places to work and live. The government has built on these strategic advantages towards making the state a hot-spot for tourism and businesses, with the annual Calabar Carnival tagged as the Biggest Street Party in Africa, hosting hundreds of thousands of tourists from around the world.
“The State has opportunities for cooperation which cut across sectors such as infrastructure, healthcare, education, social development and humanitarian services, agribusiness, commerce and industry, manufacturing, solid minerals, oil and gas, tourism and hospitality.”
The step taken by Otu in organising the Executive Governor’s Roundtable has been widely applauded. It is believed that the Cross River helmsman is doing excellently well in his drive to reposition the state for greater heights, through the unlocking of investment opportunities that will create jobs and boost revenue generation.
Ex-Senate Leader, Distinguished Senator Victor Ndoma-Egba, SAN, for instance, while lauding Otu, said: “It is a strategic move to reengage Development Partners who exited the State in recent times. Cross River State was home to very many development partners, so many that a specific office was created to liaise with them in the past. The diplomatic community also found the State’s projects worthy and attractive. We however lost all the advantages recently. It is therefore a good thing to see that Governor Otu is re-establishing the lost contacts and opportunities for the advantage of the State especially in our areas of comparative advantage and tourism. It is part of the rebirth of the State.”
Hon Victor Abang, member representing Ikom/Boki Federal Constituency in the Green Chamber, remarked: “The Cross River State Executive Governor’s Roundtable was quite an exciting event. It is a commendable move and a breath of fresh air. It is good to see that the governor is making conscious efforts to woo investors for the purpose of developing Cross River State. With such initiative and the determined spirit with which His Excellency, Governor Bassey Otu is working, I see a greater and prosperous Cross River State under his leadership.”
Another federal lawmaker, Hon. Bassey Akiba, representative of Calabar Municipality/Odukpani in the Lower Chamber of the National Assembly, commended Otu’s efforts at attracting investments for the economic rejuvenation of Cross River State.
Describing the executive roundtable in an instagram post as a transformative initiative while hailing Otu’s visionary leadership in spearheading the event, Hon Akiba averred that it “marks a significant milestone in the quest to invigorate the economy of Cross River State and uphold the principles of The People’s First mantra.”
He further eulogized “Governor Bassey Otu’s unwavering commitment to fostering a conducive environment for investment and development in Cross River State. By convening this gathering of critical stakeholders, Governor Otu demonstrates a keen resolve to harness synergies across sectors and forge strategic alliances with international partners, thereby laying a solid foundation for sustainable growth and prosperity.”
The Special Adviser to Otu on General Duties, Barrister Ekpenyong Akiba, said in an interview that his principal has demonstrated with the Executive Governor’s Roundtable and other laudable steps he has so far taken that the prosperity of Cross River State is guaranteed under his watch.
Hear him: “Let me start by saying that under the leadership of the Governor, Most Distinguished Senator Bassey Otu, I can assure all that a safer and a prosperous Cross River is guaranteed. And I say this with all amount of sincerity. I’m saying this because the governor is very determined and very resolute in terms of his plans and mission in recovering the state back to his pride of place.
“Cross River has all it takes to be able to sustain itself and populate the value chain for a productive economy. We have all the channels for economic development. Is it the land? Is it the air? Is it the sea, the water? So that roundtable was timely because you are talking about engaging with other nationals, engaging with top diplomats, engaging with the who is who in terms of business expectations and investments, and having the opportunities to bring back confidence and rebuild trust among all stakeholders that are critical for development.
“So for me that is one major step His Excellency has taken as a governor, creating the opportunity for investors, for business owners, for other major stakeholders in nation building to understand the readiness of Cross River as a state to do business, to also remind them of our wealth, our resources and what we are good at doing. So all we need to say is congratulations to His Excellency for keeping to his campaign promises when he said he is coming to sustain and build on all the gains of democracy.”
The legal practitioner added that “The governor’s engagement with the diplomats and development partners has also reawakened the consciousness of investors globally to the readiness of Cross River as a state to open their windows and doors for investments.”
Noting that the diplomats and development partners expressed their willingness to invest in Cross River State, Barrister Akiba said: “Those diplomats who came were happy to be part of the roundtable. And they are also optimistic that in the coming months that they will be investing in Cross River.
“Most of them were already in Cross River before now. Due to certain situations they left. Certain situations that could not be managed led to their departure. So coming back to this roundtable is a kind of rekindling, reawakening and reassuring that the new Cross River under the people-first governor (Bassey Otu) is ready to create that ambience of partnership, relationship and cooperation to enhance development that the essence of this cooperation and collaborations will be commended. So, in terms of assurances we had it from them.”
Michael Jegede, a journalist writes from the Federal Capital Territory (FCT), Abuja