Governor Bassey Otu disclosed this on Tuesday in Calabar when he signed a strategic partnership agreement with Pana Holdings to explore the state’s gas and solid mineral deposits.
The Cross River State Government says it is set to unlock the state’s vast gas and solid mineral deposits to drive industrialisation, job creation and sustainable economic growth.
Governor Bassey Otu disclosed this on Tuesday in Calabar when he signed a strategic partnership agreement with Pana Holdings to explore the state’s gas and solid mineral deposits.
Mr. Otu said the partnership was designed to position Cross River as a regional hub for energy, mining, and industrial development through public-private partnerships.
“This collaboration reflects my administration’s resolve to harness the state’s abundant natural resources in a sustainable way to close developmental gaps and ensure prosperity for the people.
“Government alone cannot deliver development; there has to be strong private sector participation, and this pact is one of the bold steps we are taking to ensure energy and food security as well as a more productive economy,” Mr. Otu said.
The governor commended President Bola Tinubu’s policies under the Renewed Hope Agenda, describing it as a courageous departure from years of “freeloading” that weakened the nation’s economy.
He assured Pana Holdings and other prospective investors of a peaceful, business-friendly environment in the state.
“While I endorse this partnership, I pledge my administration’s full cooperation to ensure a transparent and accountable implementation, which will be guided by visible outcomes,” he said.
‘Untapped opportunities’
In his presentation, Daere Akobo, the chief executive officer of Pana Holdings, said that Cross River held two of Nigeria’s greatest untapped opportunities.
He said the opportunities were in vast gas reserves estimated at 35 trillion cubic feet and rich deposits of solid minerals, including limestone, sybarite, gold, granite, quartz, manganese, and rare earth metals such as cerium and lanthanum.
According to him, these resources can power industries, create jobs, and transform Cross River into a regional hub for energy and mining.
Mr Akobo explained that through data acquisition, reserve certification and phased field development, the state could unlock these frontiers responsibly.
“This strategic partnership will expand access to affordable and cleaner energy, drive public-private partnerships for infrastructure delivery, generate employment, and develop indigenous skills.
”I advise the state to sign a Joint Venture Company with CALA Infra for gas infrastructure and solid minerals development, and form a joint working group to liaise with regulatory and ministerial bodies.
“Others are to secure a presidential visit and embark on an international roadshow to attract funding and partnerships,” he said.
He, however, called for support in facilitating a stage-gate indigenous skill acquisition programme and activating a Nigerian digital wingspan for Cross River.
(NAN)
