Cross River State Governor, Senator Bassey Otu, has signed a landmark partnership agreement with Pana Holdings to harness the state's vast gas and solid mineral deposits for industrialisation, job creation, and sustainable growth.
The deal, signed in Calabar, aims to make Cross River a hub for energy, mining, and industry through strong public-private collaboration.
Governor Otu stressed that government alone cannot drive development, noting that private sector participation is key to achieving energy security, food security, and economic expansion.
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Pana Holdings' CEO, Dr. Daere Akobo, disclosed that the state holds untapped reserves of 35 trillion cubic feet of gas alongside rich deposits of limestone, barite, gold, manganese, and rare earth metals. He said the partnership will boost clean energy access, infrastructure, employment, and skills development.
Governor Otu assured investors of a peaceful, business-friendly environment, pledging transparency and accountability. Pana Holdings proposed further steps, including a Joint Venture Company, international roadshows to attract funding, and indigenous skill-building programmes to ensure inclusive benefits for Cross River's people.
