Privatization hits Cross River State Estates

C’River Government Begins Bidding for Privatization of Palm Estates in Boki

The Cross River State Government, Wednesday opened bids for two oil palm estates in fulfilment of the criteria for the privatization.

The two estates are the Oku Borum Oil Palm plantation and Nsadop Oil Palm Estate in Boki Local Government Area of Cross River State.

Conducting the bidding rites before newsmen in Calabar, the Chairman, Cross River State Privatization Council, Mr John Monday Odo said it has become imperative to honor the call by the communities to privatize the Oil palm estates to investors in order to ensure optimal functionality of the estates.

Odo: ‘You will recall that sometime in 2021 His Excellency, the governor of Cross River State called for a referendum for Cross Riverians to decide on whether to concession or privatize some state industries.

‘A larger percentage of the population agreed to privatization, a few disagreed, but His Excellency still stood with the few who disagreed and disallowed privatization.

‘What we are doing here today is the opening of bidding for two Oil palm estates in the state, not state factories or industries. There are several investors who have applied to invest in the estates already, including the one at Erei in Biase.

‘We are doing this because the communities are beckoning us to privatize the estates to reduce conflicts and enhance development just as they have seen with Wilmer at Ibiae’, Odo said.

Speaking also, Secretary of the Cross River State Privatization Council, Barr. David Amiye, recalled that not a single entity in the history of the state had been revoked, because the processes of acquisition were thorough and credible.

‘If you do a random call at the communities you will hear for yourself that they want these palm estates privatized. By this bidding today, we are following the requisite processes of engagement and handover.

‘We have consulted with the unions and they have given the nod’, Amiye noted.

The process follows an advertorial for bidding which was published on notable local and national dailies of Saturday, April 30, 2022 and will further open the way for the financial bidding in line with extant laws.


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