Cross River state government has advocated gradual expansion of the fossil-based energy resources to ensure availability and affordability especially in our rural areas.
The government maintained that the state, being a as a sub-national, is also greatly endowed with these natural deposits for energy production besides the enormous gas reserve deposit for fossil energy just as it is endowed with titanium, feldspar, tourmaline, manganese and lithium.
Speaking at the maiden edition of the Cross River State Energy Conference and Exhibition 2024 held in Calabar with the theme “Redefining the Energy Architecture of Cross River State, using Sustainable Fuels”, Governor Bassey Otu, said the theme is premised on the national “Renewed Hope Agenda” of Mr. President - Chief Bola Ahmed Tinubu.
Otu said energy is among the first line enablers of industrialisation, hence a catalyst for national economic growth and development, adding that for renewable, the abundant sunshine could be tapped to provide solar energy, the stretching coastline of the state has the potentials of producing wind energy by installing wind turbines.
He adds that the abundant food and cash crop by-products could be harnessed to produce bio-fuel for clean energy transition.
He said: "Since the world is gradually transiting from the fossil to sustainable energy sources for reasons of environmental friendliness and sustainability, Cross River State is poised to be a major player in the renewable energy drive.
"However while we are pursuing the fossil-renewable switch as a gradual transition, we also need to expand the fossil-based energy resources to ensure availability and affordability; especially in our rural areas.
"With these energy potentials at our disposal, when I assumed office as the Governor of the State, I made far-reaching decisions and took concrete steps at harnessing these resources.
"Coupled with the National Assembly’s amendment to the energy law; removing it from Exclusive to the Concurrent List, the State is open to potential investors for possible partnership in the provision of clean and affordable energy for the citizenry.
"As a State, we are poised to de-risk to the barest minimum, whatever challenges investors may counter. Among these are legal issues and repatriation of profits.
"To achieve the foregoing, this conference is therefore a veritable platform for us to reiterate our commitment towards the positioning of the state as an energy hub with envisaged centres for Compressed Natural Gas (CNG), Liquefied Petroleum Gas (LPG) Processing Plant, Electric Vehicle (EV) parts manufacturing plants etc. A berth of investment in any of these energy sources in the State, is therefore a guaranteed economically-viable venture with huge growth potentials.
"Besides, for being among the pioneer investors in these areas, there are other investment-friendly packages that are yet to be unveiled by the Government of Cross River state."
By Ndifreke Bassey, The Beagle News
