CROSS RIVER UNVEILS $70BN INVESTMENT PLAN, TARGETS MAJOR BOOST FOR AGRICULTURE

Cross River State Governor, Bassey Otu, has announced a $70 billion public-private partnership investment package aimed at accelerating economic development across the state, with $1.5 billion specifically allocated to the agricultural sector. The governor said the investment would support food production, create jobs and expand the state’s export capacity.

Otu made the announcement at the 21st Leboku International New Yam Festival in Ugep, where he described agriculture as a major pillar of his administration’s economic agenda. He said the investment programme was designed to move farmers away from subsistence production towards large-scale and mechanised agriculture, while also ensuring better access to markets.

The governor said the state had already begun distributing tractors and other farming equipment, alongside revolving loans for farmer cooperatives across the 18 local government areas. He explained that the agricultural investment would focus on key areas where Cross River has strong potential, including rice production, oil palm, fisheries, trawler fishing and dairy farming.

According to Otu, the government’s plan goes beyond providing farm machinery, as it also involves improving rural roads, storage facilities and agro-processing infrastructure. He said the goal was to reduce post-harvest losses, increase farmers’ earnings and create thousands of employment opportunities while positioning Cross River as a major food-producing state in the South-South region.

The announcement was welcomed by farmers and cooperative leaders, although they urged the government to ensure transparency in the distribution of equipment and financial support. Otu assured stakeholders that a monitoring system would be established to track the distribution of tractors and loans, as attention now turns to how quickly the planned agricultural investment can translate into increased production and improved livelihoods for farmers across Cross River