Cross River State government, has secured a $3.5 billion funding from the Pan-African multilateral financial institution, African Export-importbank (Afreximbank), for some of its key infrastructure projects in the state.

The state governor, Senator Bassey Otu, who was in Egypt, last week for a workshop, also visited the African Export-Import Bank (Afreximbank) in Cairo to explore partnership in key infrastructure projects to be undertaken in the state.

The workshops held during the visit culminated in the signing of a project preparation facility for the development of a deep seaport estimated to cost $3.5 billion.

Securing the funding at a workshop attended by the governor as well as some of the key members of his government at the bank’s headquarters in Cairo, the Egyptian capital, Otu noted that ”This is a world-class partnership that will result in positioning Cross River State economically.”

Otu, who expressed excitement about the collaboration with Afreximbank, emphasized the importance of the projects in driving economic growth and development in the state, highlighting the potential for attracting foreign investment and stimulating economic growth.

At the visit to Afreximbank, Otu also had extensive Government-to-Business (G2B) meetings with tier 1 companies, including Orascom Construction, Elsewedy Electric, and Hassan Allam Holdings.

One of the highlights of Governor Otu’s engagement in Cairo was the signing of Project Preparation Facility Agreement and Financial Advisory Agreement with Afreximbank for two major projects in Cross River – the Bakassi Deep Seaport and 217km Superhighway integrated Project, as well as the Obudu Cattle Ranch and Mountain Resort project.

kenny714433:
Stories

I wish it could be true tho, but it is what it is, stories.

ThinkSmarter:
Most Niger Delta States are strategically located like Lagos state for Port, Real Estate and Tourism development.
The brain behind the Lagos~Calabar Coastal Highway is innovative/ futuristic.
Most world beautiful cities are close to the sea.
It is a natural therapy to live in a house where u have a sea view.

ThinkSmarter:
Most Niger Delta States are strategically located like Lagos state for Port, Real Estate and Tourism development.
The brain behind the Lagos~Calabar Coastal Highway is innovative/ futuristic.
Most world beautiful cities are close to the sea.
It is a natural therapy to live in a house where u have a sea view.

CheapHomes1:


what is the benefit of the lagos-calabar coastal highway to nigeria? how is the road futuristic and innovative?

chopnaira:
What a Wawu. While some are still begging FG for a sea port even though they have no sea.

Cross River is following the lead of Lekki deep sea port in Lagos. Both ports soon to be connected by the coastal highway.

chopnaira:
What a Wawu. While some are still begging FG for a sea port even though they have no sea.

Cross River is following the lead of Lekki deep sea port in Lagos. Both ports soon to be connected by the coastal highway.

dibunotion:
Obi has not been reacting lately

CheapHomes1:


what is the benefit of the lagos-calabar coastal highway to nigeria? how is the road futuristic and innovative?

CheapHomes1:
how much business has lekki sea port taken from apapa sea port? how will this proposed sea port make any difference for cross river state?

chopnaira:
What a Wawu. While some are still begging FG for a sea port even though they have no sea.

Cross River is following the lead of Lekki deep sea port in Lagos. Both ports soon to be connected by the coastal highway.

Goodvibes007:

Did you just really ask this question?

And you say you are in property development lol.

Goodvibes007:

A lot. The lekki deep sea port is one of the major reasons Dangote Refinery was sighted in the Lekki.

CheapHomes1:
yes I asked the questions not question. do you have the answer to the questions? how is the question I asked related to property development? can you pls remind when and where I informed you that I am in property development?

Splashme:
Lies

YesDaddyTill203:


If you need someone to explain the benefits to you, then it's too late.
It will just go over your head, you will never comprehend it. N need to waste time and effort.