C’ River woos diaspora investors to boost state’s economy
Gov. Bassey Otu of Cross River has called for investment partnerships with the diasporas in the effort to improve the development and economy of the state.
Otu made the remark at an Investment and Business Conference organised by the state government and attended by the Global United Christian Congress of Africa and Diaspora (GUCCAD) in Calabar on Wednesday.
The theme of the conference was ‘’Invest Cross River.’’
The governor, represented by Michael Odere, the state Commissioner for Finance, explained that partnership was a bedrock of international cooperation through which investment decisions were made and implemented.
He said that interdependence of countries for inclusive growth underscored the need for geographical zones to harness their respective natural and human endowments in readiness for partnership with another zone.
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According to him, the assemblage of our brothers and sisters in the diaspora today is a well-thought-out initiative by the state.
Otu added that the initiative was to catalyse growth and development in different sectors of the state through capital importation or foreign direct investment.
He explained that the state had a land area of 20,156 square kilometres and a projected population of 4.4 million with 2.9 per cent annual growth.
He added that also with the prevailing tropical climate and solid mineral deposits, the state is certainly an ideal investment hub.
“Besides, the state is a frontier to Equatorial Guinea, the Cameroon and São Tomé and Príncipe; it is also home to the largest free trade zone in Nigeria with a near-zero crime rate,” he said.
Reiterating the potentials of the state, Otu said that the agriculture, mining and renewable energy, infrastructure and tourism sectors in the state were all open to investments.
On his part, President of GUCCAD, Prof. Ijeoma Nwosu, said he had assisted in convincing the international community that Nigeria was serious about reconciliation and business.
Nwosu said that representatives from 18 nations that came with them were very excited about the state and its potential.
He assured that in their return in 2026, they would come with twice the number that came in 2025 to invest in the state.
Similarly, Bong Duke, Vice Chairman, Cross River Planning Commission, said the state was not just offering land but providing a tested agro-model with links to thousands of local farmers.
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He said this would ensure a steady supply of raw materials like cocoa, cassava, among others, urging the investors to invest in factories and harness the abundant resources of the state.
Duke reminded them that transforming agricultural raw materials into finished goods could be exported from Calabar to Europe and the Americas.
He said that other areas ripe for investment in the state included aviation and tourism, and ancillary businesses.
According to him, you have the capital, global connections and global perspectives, but we have the land and a ready workforce.
“I urge you to move from the diaspora narrative to the developer narrative as Cross River remains one of the safest places in Nigeria for your investment,” he maintained.
