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•It signals economic rebirth, Gov Otu
The Cross River State Government has formally reclaimed ownership of the Tinapa Business Resort from the Asset Management Corporation of Nigeria (AMCON), marking a new chapter in the state’s economic revival.
Established in 2007 by former governor Donald Duke as a business and leisure hub with Free Trade Zone status, Tinapa was envisioned as a catalyst for trade, tourism, and investment in the region. However, following financial challenges, the resort was taken over by AMCON in 2011.
Speaking during the formal handover ceremony at the resort, Governor Bassey Otu described the recovery as “a battle fought and won for all Cross Riverians.”
“The return of Tinapa is not merely an event; it is a rebirth, the triumph of faith, patience, and resilience.
“This is more than reclaiming an asset; it is the revival of a vision that once placed Cross River on the global economic map”, the Governor said.
He reaffirmed his administration’s commitment under the “People First Agenda” to reposition Tinapa as a thriving hub for trade, tourism, and creative enterprise.
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He revealed that discussions were already ongoing with credible investors and partners to transform the facility into a dynamic centre of commerce and job creation, guided by transparency and accountability.
Otu also expressed gratitude to the Federal Government, AMCON, and other relevant agencies for their cooperation throughout the transition process, commending all stakeholders who played key roles in ensuring the successful handover.
Commissioner for Finance, Dr. Mike Odere, hailed the development as a symbol of renewed pride and optimism for the state. “It means pride, it means reawakening, it means renewed hope as we are now free to attract investors and reposition the facility for maximum impact,” he said.
Executive Director of AMCON, Mr. Shola Lamide, noted that the corporation had acquired Tinapa in 2011 but faced challenges attracting private investment to revive it.
He described the handover as “a win for both AMCON and the people of Cross River.”
