September 10, (THEWILL) – Cross River State Governor, Senator Bassey Otu, said his administration has secured $1 billion in investment through Foreign Direct Investment (FDI).
Governor Otu, who disclosed this during a media parley to mark his 100 days in office, said the investment is courtesy of the recently concluded International Cooperation and Investment Summit, which was hosted by the State.
In addition to this, the Governor said another $15 million private sector investment into the Ayip Eku Oil Palm Estate has been successfully attracted and this will come with multiple effects on employment and growth of the State GDP.
On the State’s indebtedness to pensioners, Governor Otu disclosed that his administration inherited 24 billion naira gratuities to retirees.
He disclosed that the debt is not what this generation should be proud of considering that the retirees worked for the State and helped to develop it, adding that the State would not be where it is if not for them.
Otu said his administration would go back to the drawing board and look at why they were not paid and also work with the State House of Assembly to come up with a contributory pension scheme to help address the issue.
On the State’s debt portfolio, the State Governor said his administration has successfully restructured the debt repayment so as to give room for development projects.
On the two billion naira received by the State for palliative, the Governor said his administration needed to set a proper structure to direct it so that it would not get to the wrong people.
He announced the composition of a palliative committee headed by the Secretary to the State Government, Professor Anthony Owan Enoh, to see to its proper distribution.
THEWILL Correspondent, Aniekan Bassey has over six years experience that spans across several fields in print journalism including development communication, sexual reproductive and health rights issues, crime, climate change, social justice, business and human interest stories.
