Otu’s $1.075bn PPP Blueprint: Cross River Eyes Industrial Revolution

By Correspondent

Cross River State is positioning itself for a major economic transformation following the approval of a landmark N70 billion and US$1.075 billion Public-Private Partnership (PPP) investment package covering critical sectors of the state’s economy.

The far-reaching investment initiative, approved by the Cross River State Executive Council, is designed to deepen private-sector participation in the state’s development while opening new frontiers for industrialisation, job creation and sustainable economic growth.

The approved portfolio includes the Kereksuk Limited Rice Value Chain Development Project in Calabar, Odukpani and Ogoja; the Valuefronteira Limited Oil Palm Development Project in Yala; the 100MW Solar Power Project by Tee Pama Limited across Calabar, Ikom and Ogoja; the Calabar Fishing Port and Fisheries Development Project; the Odukpani Dairy, Livestock and Trawler Fishing Project; electric vehicle manufacturing; statewide Compressed Natural Gas (CNG) infrastructure; the State Transport Company PPP; Creek Town Industrial Park; healthcare diagnostic centres; municipal waste management facilities; the 60b investment in Obudu cattle ranch, Utanga Lodge and Bebi Airstrip by Living Curation Real Estate Limited; the rehabilitation of the Adiabo Gas-Fired Power Plant; and a lithium battery assembly plant.

Unlike conventional government-funded projects, the new investment framework places strategic emphasis on partnerships with private investors, with projects spread across agriculture, energy, transportation, manufacturing, healthcare and environmental management.

The administration of Governor Bassey Otu believes the scale and diversity of the projects could fundamentally reshape Cross River’s economic landscape and strengthen its position as a destination for both domestic and international capital.

At the centre of the initiative is a deliberate effort to create an investment environment where private capital can work alongside government resources to deliver infrastructure, services and productive economic assets.

The Executive Council has authorised the Ministry of Justice to prepare, negotiate and conclude all necessary Project Agreements, Joint Venture Agreements, Concession Agreements and other ancillary legal instruments required for the immediate execution of the approved projects.

The legal framework is particularly significant because it is intended to provide investors with greater certainty while protecting the public interest.

Governor Otu stressed that the contracting process would be guided strictly by the provisions of the Cross River State Public-Private Partnership Law.

“We are institutionalising global best practices because investors deserve certainty, while our people deserve value for every partnership entered into on their behalf,” the governor said.

The statement reflects a central feature of the administration’s economic strategy: attracting private investment without compromising transparency, accountability and value for money.

For Cross River, the significance of the N70 billion and US$1.075 billion package goes beyond the monetary value attached to the projects. It represents an attempt to reposition the state’s development model from one largely dependent on public expenditure to one capable of mobilising substantial private capital for long-term economic development.

Agriculture, for instance, offers opportunities for expanding production, processing and value chains, while investments in energy could address one of the major constraints to industrial and commercial activities.

The transport component is equally strategic, given the importance of efficient connectivity to trade, tourism and movement of people and goods. Improved transport infrastructure could also strengthen links between productive communities and markets.

In manufacturing, the inflow of private capital could stimulate local production, create employment and reduce dependence on imported goods. Healthcare investments, meanwhile, are expected to improve service delivery while potentially expanding access to modern medical facilities and services.

Environmental management is another critical component, particularly for a state endowed with extensive forests, waterways, biodiversity and other natural resources. Sustainable management of these assets could create economic opportunities while protecting the environment for future generations.

Taken together, the projects form part of Governor Otu’s broader economic blueprint, which seeks to use strategic private-sector partnerships as a catalyst for sustainable development across the state.

The ambition is not simply to attract investors, but to create an ecosystem in which investors can operate with confidence and the people of Cross River can benefit through infrastructure, employment, improved services and expanded economic opportunities.

The emphasis on legal certainty could also prove crucial in attracting serious investors. By insisting that agreements be negotiated and executed within the framework of the state’s PPP law, the administration is seeking to establish clearer rules for participation and reduce uncertainty around major investments.

For a state seeking to compete for increasingly mobile domestic and foreign capital, such certainty can become a competitive advantage.

The government’s expectation is that the approved projects will help consolidate Cross River’s emergence as a centre of innovation, industrialisation and inclusive economic growth.

If successfully implemented, the $1.075 billion PPP package could mark a defining moment in the state’s economic history—transforming government-private sector relations from occasional collaboration into a structured engine for development.

The ultimate test, however, will be implementation.

The success of the initiative will depend on the ability of the government to translate approvals and agreements into completed projects, measurable economic benefits and improved living standards for residents.

For Cross River citizens, the promise is therefore larger than the headline figure. The real measure of the investment package will be seen in new jobs, better infrastructure, stronger businesses, improved public services and a more vibrant economy.

With the legal groundwork now being put in place, the state is betting that $1.075 billion in strategic private investment can become the foundation for a new chapter—one in which Cross River moves from having enormous economic potential to fully converting that potential into inclusive prosperity.