Governor of Cross River State, Senator Prince Bassey Edet Otu, has called on Nigerians in the diaspora to invest in industries and businesses in the state rather than sending only remittances home.
The governor who was represented by the Commissioner for Finance, Dr. Mike Odere made the call in Calabar during the Cross River State Investment and Business Conference with the theme “Invest Cross River.”
The event attracted business leaders, investors, and government officials who came to explore new opportunities for foreign direct investment in the state.
Governor Otu, while welcoming participants, said Cross River has the peace, natural resources, and workforce that make it a top destination for investors.
“Dear brothers and sisters in the diaspora, do not send remittances, send your ideas. Do not just build houses, build industries. Do not just be visitors and tourists, be founders of businesses in Cross River. Any investment in Cross River will yield many returns,” the governor said.
He described the state as one of the safest in Nigeria and an ideal hub for business, given its proximity to Cameroon, Equatorial Guinea, and Sao Tome and Principe.
The governor said Cross River is rich in opportunities across agriculture, mining, renewable energy, tourism, and transport. He noted that the state’s fertile land and climate make it suitable for crops like cocoa, palm, rice, and cashew, and called on investors to take advantage of the potential in the agro value chain.
“The state has the largest forest reserve in Nigeria, and we are increasing it by 50 percent in the next three years. We are also investing in factories like the chocolate factory, rice mill, and oil processing plants. Investors are invited to join us to build more agro industries,” Otu said.
He added that the state is also focusing on renewable energy and the mining of minerals such as limestone, barite, feldspar, and manganese to support clean energy production.
The Vice Chairman of the State Planning Commission, Dr. Bong Duke, said the government is offering investors land and a working agricultural model that connects them with thousands of local farmers for a steady supply of raw materials.
“We need you to build factories to process cassava into ethanol, to make fruit juice concentrate, cocoa butter, and rubber cream. We need you to build factories so that our cocoa will leave our shore as chocolate and not as cocoa seeds,” Duke said.
He said the state is also developing the Calabar Industrial City and Logistics Park near the port to serve as a hub for warehousing, cold storage, packaging, and light manufacturing for the South-South and Central African regions.
Duke further said the state is positioning itself as Nigeria’s new aviation and logistics hub. “Today, we will witness two Cali Air flights, one to Lagos and one to Abuja. This marks a new beginning for the aviation sector in Cross River State,” he announced.
He highlighted more investment opportunities in renewable energy, healthcare, education, and ICT, noting that the state needs specialist hospitals, international schools, and technology hubs.
“You can build a specialist hospital in Calabar and be sure of the Nigerian and West African market. There is no international baccalaureate school in southern Nigeria; you can fill this gap profitably,” Duke said.
He assured participants that the government has made doing business in the state easier. “We have created a one-stop investment office at the Planning Commission to guide investors from the beginning to the operation stage. No more running from one office to another,” he said.
President of the Global United Christian Congress of Africa and the Diaspora (GUCCAD), Prof. Dr. Ijeoma Anicho Nwosu, praised the Cross River State Government for its hospitality and readiness for investment.
“To say we are grateful is not enough. You have shown the world that Nigeria is ready for peace and business. Today, 18 nations are here with us in Cross River State. By the next convention in 2026, we will have twice the number of nations,” she said.
He added that business and investment will continue to grow in Cross River, describing the state as “a shining example of cooperation between Africa and its diaspora.”
Earlier, the Chairman of the Cross River State Diaspora Commission, Prince Otu Okor, said the conference shows the state’s strong commitment to economic growth and partnership.
“Our state is rich in natural resources, culture, and a hardworking population. We invite you to explore opportunities in palm oil, cocoa, rubber, roads, ports, energy, and tourism. Together we can build a prosperous Cross River State,” he said.
The conference featured optimism among participants that the discussions and partnerships formed would lead to meaningful investment in Cross River.
Other dignitaries present also include the Commissioner for Health, Dr. Henry Ayuk, the Commissioner for Education, Sen. Prof. Stephen Odey, Chairman, CRS Carnival Commission, Sir. Gabe Onah, amongst others.
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