Federal lawmaker commends Cross River governor on Bakassi deep seaport, others
A lawmaker representing Calabr South, Akpabuyo and Bakassi Federal Constituency in the National Assembly, Rt. Hon. Joseph Bassey has commended Senator Bassey Otu, the Cross River State Governor for securing $3.5 billion facility from the Pan-African multilateral financial institution, African Export-Import Bank (Afrexibank) for some critical projects in the state.
The MP said this in a chat with a LENS Reporter in Calabar on Monday June 24, 2024 disclosing that Governor Otu’s smart thinking is a strategic move to drive sustainable economic growth in key sectors of the state.
Otu, who was in Egypt for a workshop accompanied by some of his cabinet members, visited African Export-Import Bank (Afreximbank) headquarters in Cairo to explore partnership options to finance key infrastructural projects initiated by the administration of his predecessor, Senator Ben Ayade.
One of the highlights of Governor Otu’s engagement in Cairo was the signing of project preparation facility Advisory Agreement with Afreximbank for two major projects in Cross River- Bakassi Deep Seaport and 217Km Superhighway project as well as the Obudu Cattle Ranch and Maintain Resort Project started by the administration of former Governor Donald Duke , and underlined the positive impact the projects will have on the state’s economy. He added, “while the Bakassi Deep Seaport and Superhighway projects are expected to boost trade and commerce, the Obudu Cattle Ranch and Mountain Resort Projects will promote tourism and create job opportunities for the people of Cross River State.
The signing of a project preparation facility for Bakassi deep sea port estimated to cost $3.5 billion, is one out of the signature projects presented to the bank.
Governor Otu had noted while inking the dotted lines that, “This is a world class partnership that will result in repositioning Cross River State economically and expressed his excitement about the collaboration with Afreximbank. He emphasized the importance of the project in driving economic growth and development and highlighted the potentials to attract foreign investment as well as stimulating economic growth.
During the visit to Afreximbank, he also had extensive Government-to-Business (G2B) meetings with tier I Companies including ORASCOM Construction which built the Unicem Cement Plant in Mfamosing Akamkpa, ELSEWDEY Electic and HASSAN ALLAM Holdings.
Afreximbank is a Pan-African multilateral financial institution saddled with the mandate to finance and promote intra and inter African trade.
By; Archibong Emmanuel
(Snr. Reporter)
