By Onwa Ekor
Cross River governor, Prince Bassey Otu, has intensified his administration’s drive for private sector investments, unveiling vast opportunities in maritime infrastructure, logistics, agriculture, hospitality and commerce.
Otu spoke Sunday at the 2026 Governor’s Ball held at Peregrino Hall, Government House, Calabar, where captains of industry, business leaders, investors and statesmen gathered to celebrate his leadership and political journey spanning over 30 years.
The governor who thanked the conveners for the honour, describing the occasion as a rare privilege, added that governance thrives on collective ideas and shared responsibility.
“There is no monopoly of knowledge. We share and make sure that everything is brought to a melting pot so that from there we can advance,” he said.
Otu said Cross River’s vast geography and peculiar development challenges demand deliberate planning and sustained investment.
He assured investors that his administration would remove bureaucratic bottlenecks and ensure businesses thrive.
“No government can move without the private sector,” he said, promising prompt government support without unnecessary delays.
He said his administration had put structures in place to reposition the state’s economy, noting that property values had appreciated significantly, with plots previously sold for about ₦9 million now going for as much as ₦45 million.
Otu also highlighted gains in the technology and outsourcing sector, disclosing that over 700 persons had been trained, with more than 600 already earning salaries in foreign currencies.
Advising youths to be resilient and seize emerging opportunities, the governor said, “life is about rising. What determines the future is your resilience to pass through these encumbrances and make sure you achieve.”
Earlier, Chairman of the Cross River Internal Revenue Service, Prince Edwin Okon, said about 46 previously inactive companies had indicated interest in resuming operations, while several others approached the Service in 2026 to register as taxpayers, a sign of renewed confidence in the business environment.
Okon said investors could take advantage of tax incentives, waivers and reliefs, revealing that 16 companies benefited from waivers in October alone.
He said the state had harmonised taxes and levies to eliminate multiple demands and ease the burden on businesses, adding that the policy was already benefiting companies like Wilmar, as the Service expands automation to boost transparency.
He further advised investors to pay directly into government accounts to strengthen accountability.
In her remarks, Managing Director of Tenaris Global Services, Mrs Rosario Osabose, said investment follows confidence, not just potential.
“Investment doesn’t flow or follow potential. Investment follows confidence. Many places have potential; few create confidence,” she said.
She commended the state for hosting the Sixth African Sub-Sovereign Governments Network Investment Conference, describing it as a platform to showcase Cross River’s ambition and readiness for growth.
Osabose identified the proposed Bakassi Deep Sea Port as a game-changer capable of driving logistics, industrialisation and job creation.
She also urged the state to explore opportunities across the energy value chain, disclosing that Tenaris had invested about $10 million in a thermal insulation coating facility, the only plant of its kind in sub-Saharan Africa, recently commissioned by the Minister of State for Petroleum Resources.
She called for stronger government-private sector collaboration and for removal of barriers limiting women and youths.
“Excellence has no gender. Talent has no gender. Ambition has no gender, and opportunities should not either,” she said.
