Cross River State Governor, Senator Prince Bassey Edet Otu, has called on states in the South-South region to urgently harness their vast agricultural and extractive resources to drive sustainable economic transformation and resilience.
Governor Otu, represented by his deputy, Rt. Hon. Peter Odey, made the call on Tuesday while declaring open the South-South Zonal Banking and Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CIBN). The event held at the Calabar International Convention Center.
In his address, Governor Otu emphasized the need for the region to leverage its comparative advantages—particularly in agriculture, oil and gas, and solid minerals—to diversify its economy and reduce dependence on federal allocations.
“The South-South zone must act with urgency to diversify its economy, leveraging our shared natural endowments in agriculture and extractive resources,” the deputy governor said. “The fertile land across our region gives us a comparative advantage we must convert into prosperity through agriculture and its value chain.”
He described the conference as timely, considering global economic uncertainties and trade tensions, and stressed the importance of subnational governments developing sustainable economic frameworks.
Highlighting recent strides made by Cross River State in agriculture, aviation, maritime, tourism, and infrastructure, Governor Otu urged participants to explore investment opportunities across the South-South and within the state. He also commended CIBN for its foresight in organizing the conference and for selecting Cross River as the host state.
In his welcome remarks, the Cross River State Commissioner for Finance and Chairman of the Conference Planning Committee, Dr. Michael Odere, stressed the importance of decentralizing CIBN conferences to foster inclusivity and regional engagement. He encouraged stakeholders to seize ongoing economic reforms as an opportunity to drive development across the region.
The President and Chairman of Council, CIBN, Prof. Pius Olanrewaju, commended Cross River State for its warm hospitality and reaffirmed the Institute’s commitment to deepening financial inclusion, building institutional capacity, and advancing economic policy advocacy across all geopolitical zones.
Prof. Olanrewaju highlighted the untapped economic potential of the South-South and called for coordinated efforts across financial, technological, and policy sectors to reposition the region for long-term growth. He emphasized the role of financial institutions as catalysts for innovation, investment, and inclusive development.
The conference featured goodwill messages from Hon. Okon Owuna, Member representing Akamkpa I in the Cross River State House of Assembly and Chairman, House Committee on Finance and Appropriation, as well as the Central Bank of Nigeria’s (CBN) Calabar Branch Controller. There were also presentations by industry experts, including Professor Akpan Ekpo of the Centre for Public Policy, University of Uyo.
