The Cross River State Government has made huge investments in infrastructure rehabilitation and capital projects as part of efforts to restore investor confidence and improve its business environment.
The Commissioner for Finance, Dr. Michael Odere, made the remark during an interview with journalists in Calabar, the capital of Cross River State, south-south Nigeria.
Odere said that prior to the rebuilding process, the Governor Bassey Otu-led administration carried out a comprehensive assessment of the state’s assets, liabilities and public infrastructure after assuming office to ascertain the true condition of the facilities.
According to him, the findings made infrastructure rehabilitation a major priority of the government, noting that the ongoing infrastructure renewal programme was designed to create a more attractive environment for investors and support economic growth.
He said road reconstruction, environmental sanitation and the rehabilitation of public buildings formed part of broader efforts to rebuild the state’s economic and social infrastructure.
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The finance commissioner stated, “the assessment revealed that many government office buildings needed to be revamped and equipment upgraded to meet current realities. The government, in the past three years, invested nothing less than ₦400 billion on capital rehabilitation. These included the construction and rehabilitation of roads as well as buildings across the state.
“From Bakassi to Obanliku, the state government has spent billions of naira on renovations and construction. Cross River State embarked on massive rebuilding of infrastructure so that we can attract investors. We needed to put up structures to reposition our state for optimal efficiency,” he explained.
Speaking further, the commissioner explained that local and international consultants were engaged to evaluate the state’s financial position, infrastructure assets and operational systems before reforms were introduced.
Odere also stated that the review enabled the state government to pursue outstanding revenues and other claims from the Nigerian government.
“We have recovered more than ₦59 billion from the Federal Government arising from miscalculations and other outstanding claims,” he stated.
The commissioner further disclosed that the state had adopted alternative financing models, including Public-Private Partnerships (PPPs) and joint ventures, to reduce dependence on conventional borrowing for major projects.
According to him, the government is prioritising projects capable of creating jobs, stimulating economic activities and generating long-term value for Cross River State.
