The promise by the Cross River State governor, Senator
Ben Ayade that he will not require the state resources to
finance his proposed signature projects seem to be
taking shape gradually with the involvement of private
investors who say they are confident that the governor
has demonstrated enough clout and political will to push
through with the seemingly impossible ideas.
In a courtesy call today to the governor’s office in
Calabar today, Mr. Mr Michael Le Havre, CEO of Broad
Spectrum Industrial Services Limited, an Isreali firm with
over 30 years experience in project financing, energy/
power, civil engineering/agriculture presented to the
governor, a document which they say grants their firm
mandate to fund the governor’s signature projects,
which include a state owned Seaport, a 240km
superhighway from Calabar to Obudu and cement/mining
corporation, to the tune of 500 Million Euro.
According to Mr. Le Havre, “Your (Cross River State) part
of the financial involvement will be very minimal.”
He asked the state government to issue a bank
guarantee to her bank so that work can begin in earnest
while legal agreements were been discussed by the legal
teams.
He further disclosed that 500million Euros has already
been voted in favor of the projects from their account
with Deutsche Bank which he is signatory to.
The investors led by Michael Le Havre of Broad Spectrum
Industrial Services met with the state team led by
Governor Benedict Ayade in the conference room of the
governor’s office in Calabar where he disclosed they
were interested in the project which the governor
stressed was not a loan.
Governor Ayade in his response maintained that “This is
not a debt, this is not a loan but project financing and
the project has the capacity to pay back by itself. The
state has meticulously studied the projects and
concluded they will add value to the lives of Cross
Riverians as the seaport and evacuation corridor will be
serving not just Nigerians but landlocked countries like
Niger and Chad with deep dredging to be carried out to
accommodate mother vessels.” He said.
crossriverwatch.com/2015/06/investors-to-finance-governor-ayades-signature-projects-with-500m-euros/

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