Here’s a quick rundown of what’s happening:
- Deal Approved: The Cross River State Executive Council approved a settlement to re-acquire defunct rubber estates.
- Prime Land: These estates cover approximately 22,000 hectares across several Local Government Areas.
- Revival Plan: The government aims to partner with investors to revitalize the estates and create a thriving rubber industry.
- Infrastructure Boost: Key roads are set for rehabilitation, and plans are in place to expand infrastructure in Ikom.
Cross River Seals the Deal: Rubber Estates Return!
Big news coming out of Cross River State! The Executive Council has given the green light to an out-of-court settlement that will see the government re-acquire its rubber estates. These estates, previously managed by Enghaut Industries Limited, have been underperforming, leading to this decisive action.
Why This Matters
These rubber plantations aren’t just any old land. They represent a significant potential for economic growth in Cross River State. We are talking about 22,000 hectares across Akamkpa, Biase, and Yakurr Local Government Areas! But poor management led the government to revoke the Certificate of Occupancy granted to Enghaut Industries back in June 2024.
According to official statements, the company failed to manage the estates effectively, leading to degradation and the loss of its status as a leading rubber production hub in Nigeria.
Governor Otu’s Vision: A Rubber Revolution
Governor Bassey Otu is clearly excited about this development. He believes this settlement paves the way for fresh investment and economic revitalization. “With this settlement, we can now explore partnerships with serious investors to unlock the full potential of the rubber estates, create jobs, and develop a thriving value chain that will benefit the people of Cross River State,” he said during the meeting.
What’s Next for the Rubber Estates?
The government is now looking for serious investors to partner with. This could involve:
- Modernizing the rubber production process
- Creating jobs for local residents
- Developing a value chain that includes processing and manufacturing of rubber products
More Than Just Rubber: Infrastructure Boost on the Way!
But that’s not all! Governor Otu also announced plans to rehabilitate three key roads: the Boki East-West Road, the Okpoma–Mfum Junction Road, and the John Okpa Road in Obubra. This is part of a broader infrastructure renewal program aimed at improving connectivity and boosting economic activity.
Ikom to Get an International Market
Recognizing the importance of Ikom as a major border town, Governor Otu also revealed plans to expand the town’s infrastructure. This includes establishing an international market and a modern motor park.
“The cross-border trade between Nigeria and Cameroon, along with Ikom’s role as a hub for agricultural produce, auto parts, and residential growth, makes it a critical point of focus. We are determined to provide the necessary support to match its potential,” he stated.
The Future Looks Bright
Cross River State is making bold moves to revitalize its economy. With the rubber estates back in government hands and plans for infrastructure development underway, the future looks promising.
Fun Fact: Did you know that rubber was first introduced to Nigeria in the late 19th century? It quickly became a major export crop, and Cross River State was once a leading producer!
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