Otu’s $1bn PPP revolution and transformation of Cross River

By Linus Obogo

There comes a time in the life of a state when the diction and rhetorics of governance change from aspiration to action, from promises to projects, and from the language of possibility to the unmistakable grammar of investment. Cross River State is at that bend and entering one such defining moment. With the unveiling of a historic Public-Private Partnership (PPP) investment package a couple of weeks ago, valued at more than US$1.075 billion, the administration of Governor Bassey Edet Otu has opened a new chapter in the state’s economic story, one in which private capital, public purpose and strategic development converge in an ambitious bid to transform the landscape of production, enterprise and prosperity.

The approval of 16 transformative projects by the State Executive Council is more than an impressive catalogue of investments. It represents a deliberate economic architecture designed to move Cross River away from an overdependence on traditional sources of public revenue and towards a diversified, productive and investment-driven economy. The projects span agriculture, renewable energy, transportation, manufacturing, healthcare, infrastructure and environmental sustainability—sectors capable not only of generating wealth, but also of creating the ecosystem in which businesses flourish, communities prosper and young people find meaningful opportunities.

Governor Otu captured the significance of the moment with characteristic clarity, describing the ExCo ratification as “another defining moment in our determination to reposition Cross River as Nigeria’s foremost investment destination.” His words are significant because they reveal the philosophy behind the package. The projects, he stressed, are “not mere proposals on paper but carefully structured partnerships that will unlock jobs, stimulate industrial growth, expand our revenue base and improve the quality of life of our people.” In other words, the government is not simply courting investors; it is seeking to deploy investment as an instrument of structural transformation.

At the heart of this economic renaissance is agriculture, an area in which Cross River possesses enormous comparative advantage. The Kereksuk Limited Rice Value Chain Development Project in Calabar, Odukpani and Ogoja, alongside the Valuefronteira Limited Oil Palm Development Project in Yala, signals a determined effort to move agriculture beyond subsistence into an integrated commercial value chain. The objective is not merely to produce crops, but to stimulate processing, create agro-industrial enterprises, strengthen food security and ensure that greater value is retained within the state. It is an economic philosophy that sees the farm not as the end of production, but as the beginning of an industrial chain capable of generating employment and wealth.

Equally compelling is the package’s embrace of the energy revolution. The proposed 100MW solar power project by Tee Pama Limited across Calabar, Ikom and Ogoja, the rehabilitation of the Adiabo Gas-Fired Power Plant and the proposed lithium battery assembly plant collectively point towards an emerging clean-energy and industrial ecosystem. Coupled with statewide Compressed Natural Gas infrastructure and electric vehicle manufacturing, these investments would no doubt reposition Cross River as a laboratory for cleaner transportation, energy innovation and green industrialisation. In an era when energy security increasingly determines the competitiveness of economies, the significance of such interventions cannot be overstated.

The blue economy and transport sectors also occupy prominent positions in this investment constellation. The Calabar Fishing Port and Fisheries Development Project, the Odukpani Dairy, Livestock and Trawler Fishing Project and the State Transport Company PPP are designed to unlock the commercial possibilities embedded in Cross River’s geography. With its extensive coastline, waterways, agricultural hinterland and strategic location, the state possesses natural advantages that can support logistics, fisheries, tourism and regional commerce. The proposed Creek Town Industrial Park adds another dimension, potentially creating a platform where manufacturing, processing, logistics and ancillary businesses can converge.

Perhaps most striking is the breadth of the package. Healthcare diagnostic centres and municipal waste-management facilities demonstrate that the PPP philosophy is not restricted to conventional commercial ventures. It extends into sectors that directly affect the quality of life of citizens.

Meanwhile, the proposed N60 billion investment in Obudu Cattle Ranch, Utanga Lodge and Bebi Airstrip by Living Curation Real Estate Limited brings tourism and hospitality into the larger investment equation, reinforcing Cross River’s long-established reputation as one of Nigeria’s most naturally endowed tourism destinations.

For Governor Otu, however, investment is ultimately about people. “Our young people deserve opportunities, not promises,” he declared. That statement perhaps best captures the social contract underpinning the initiative. The real measure of the projects will not simply be the billions announced, but the number of jobs created, businesses established, technologies transferred, communities empowered and families lifted into greater prosperity. The administration expects the projects to generate thousands of direct and indirect employment opportunities while strengthening Internally Generated Revenue and broadening the productive base of the state.

Importantly, the government has also recognised that attracting capital is only one side of the equation; protecting public interest and ensuring accountability is the other. Accordingly, ExCo approved a governance framework requiring Project Monitoring Committees to be constituted by the relevant Ministries, Departments and Agencies through the Bureau of Public Private Partnerships, with quarterly performance reports submitted to the State PPP Council. The Ministry of Justice has also been authorised to prepare and negotiate the requisite project, joint venture and concession agreements, with strict adherence to the Cross River State PPP Law.

This institutional framework is crucial. PPPs succeed when investors have confidence in the rules and citizens have confidence that their interests are protected. As Governor Otu aptly put it, “investors deserve certainty, while our people deserve value for every partnership entered into on their behalf.” That balance between investment confidence and public accountability will ultimately determine whether the ambitious package becomes a watershed or merely another chapter in the long catalogue of unfulfilled development promises.

For Cross River, therefore, the significance of the ₦70 billion-plus and $1.075 billion investment package transcends its impressive financial value. It is a statement of intent; a declaration that the state is ready to compete for capital, embrace innovation and build an economy anchored on production rather than consumption. As Governor Otu himself says, “We are deliberately building an economy that is driven by production rather than consumption.”

If successfully implemented, these partnerships could alter not only the physical landscape of Cross River but also its economic psychology—replacing dependency with enterprise, unemployment with opportunity and untapped potential with productive wealth. The road ahead will demand discipline, transparency, sustained political will and rigorous execution. But with sixteen strategic projects spanning the farms, factories, ports, power plants, hospitals, transport systems and tourism assets of the state, Cross River has placed a formidable wager on its future.

And this time, the wager is not merely on what Cross River can become. It is on what Cross River can produce.

• Obogo is Chief Press Secretary and Special Adviser on Media and Publicity to Governor Otu