C'River Reaffirms Stance on PPP

The Cross River State Government has reaffirmed its commitment to partnering private investors for the development of a strong economic base in the state. The State Commissioner for Justice and Attorney-General, Mr. Ededem Ani, stated this in his office during the signing of a 25-year concession agreement between the state and Eburutu Fishery Development Limited. Ani, who was represented by the Permanent Secretary and Solicitor-General, Mrs. Rosemary Onah, described the ceremony as laudable, explaining that the agreement was signed in the interest of the parties involved. The Managing Director/Chief Executive Officer of Eburutu Fishery Development Limited, Madam Margaret Ovonlen, disclosed that the agreement is a 25-year concession in perpetuity, renewable at the appropriate time. Ovonlen commended the State Governor, Senator Bassey Edet Otu, for creating an enabling economic environment which attracted the company to invest in the state, adding that the company intends to establish a multi-million dollar fishing terminal in a bid to unlock investment opportunities. She described the envisaged project as a modern fishery practice as operated in developed countries which will create wealth and job opportunities. According to her, "This project will break away from the traditional ways of doing things, create job opportunities as well as expand and attract allied businesses in that sector and also improve the standard of living in the state." The Permanent Secretary, Ministry of Livestock, Fishery and Aquaculture, Dr. Odey Joseph Ikongha, said in his remarks that the signing of the agreement indicates that government recognises the potentials in the fishery sector. Ikongha described the project as a joint venture between Eburutu and Cross River State under a Public-Private Partnership (PPP). The Business Manager, First Bank, who commended the partners, noted that he was witnessing for the first time in the state what has been happening in South-West Nigeria, and pledged the bank's preparedness to support the project. A representative of the Calabar South community, Muri Ekpenyong Ndiyo, commended the partners for siting the project in the area while assuring them of its safety because of its multiplying effects and developmental potentials. The agreement, which was witnessed by state government officials, staff of Eburutu Fishery Development Limited, representatives of the financial sector, stakeholders in the fishery industry and community leaders, was signed by the Commissioner for Livestock, Fishery and Aquaculture, Chief Francis Ekpenyong, the Permanent Secretary, Dr. Odey Joseph Ikongha, and the MD/CEO of Eburutu Fishery Development Limited, Madam Margaret Ovonlen.