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C’River Nets N2bn From Investment Promotion

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12 years ago

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Over $2billion is said to have been injected into the Cross River State economy in the last one year as foreign direct investment ((FDI)  through its One–Stop-Investment Centre (OSIC) in the last couple of years.
Within the period, the State has also attracted some multi-national companies like Wilmar International, a Singaporean firm with an investment portfolio of N64.180billion that are invested into palm plantations and has cultivated over 50 thousand hectares of commercial palm plantation in Akamkpa and Biase Local Government Areas of the state.
Others include General Electric (GE) which will invest over N160.45billion in the next five years in the  into manufacturing, of gas turbine/heavy duty equipment, Essar Infrastructure Africa Ltd with an investment portfolio of N96.27billion and Are into 660MW Power plant located in Odukpani  Local Government area of the state.
The Special Adviser to Governor Liyel Imoke on Investment Promotion Mr. Gerald Ada, told Journalists at Earnest Etim Bassey Press Centre Friday that in 2007, the government established an Investment Promotion Bureau as a One –Stop Investment Centre to ease bureaucratic processes for both domestic and foreign direct investment.
He said since then, there had been a noticeable increase in FDI, thus consolidating the state’s position as a destination for business as well as leisure.
According to the Special Adviser, his department has also within the period wooed in Project Master Nig Ltd with an investment portfolio of  N9billion directed to the manufacturing of steel fabrication within Calabar Municipality and presently under construction.
He said designed work will be completed in August this year by Artee Group /Spar who are investing N6billion in a mega shopping mall in Calabar-South Local Government Area of the state to complement Tinapa Business Resort.
Ada said GE had finished discussion with the relevant stakeholders to establish intensive programmes in the Cross River State University of Technology (CRUTEC) and College of Education to train students in special skills to meet the requirement in the oil and gas industry through its Corporate Social Responsibility (CSR) Programmes.
The Ccmmissioner maintained that construction work would also commence in July this year for an Integrated pipe mill manufacturing by Brentex Petroleum Services Limited who are investing N28billion into the state economy, while Lionsteel West Africa are investing  N24.06billion or $150 million into the state economy for  steel fabrication which is expected to create over 2000 jobs.
Similarly, Premier Feeds Nig Ltd is investing N3.2billion or $20million in animal feeds production in Calabar municipality  and is expected to create 500 jobs for indigenous citizens of the state and its environ, while OCIC is also into cement production  and is expected to create over 2000 jobs and Unicem expansion project is expected to gulp N4billion.
Ada further stated that Hazcon /Chevron who are into fabrication had applied for 100hecter of fabrication yard and the department has issued an allocation letter for N3.2billion and many other investors who have visited the state for various business  transactions.

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NPA Assures On Staff Welfare 

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2 weeks ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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2 weeks ago

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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2 weeks ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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