By Edem Ekpo
Cross River State Governor, Senator Bassey Otu, has entered into a strategic partnership with Pana Holdings to harness the state’s vast gas and solid minerals deposits, in a move designed to spur industrialization, job creation, and sustainable economic growth.
The pact, signed at the State Executive Council Chamber in Calabar, seeks to transform Cross River into a regional hub for energy, mining, and industrial development through public-private collaboration.
Governor Otu described the agreement as a milestone in his administration’s commitment to leveraging natural resources responsibly to close developmental gaps and improve livelihoods.
“Government alone cannot deliver development. Strong private sector participation is key, and this partnership is one of the bold steps we are taking to guarantee energy security, food security, and a more productive economy,” he said.
The governor praised President Bola Ahmed Tinubu’s Renewed Hope Agenda for creating a favorable investment climate, assuring investors of peace, transparency, and accountability in the state.
Delivering a presentation titled Unlocking Cross River State’s Gas and Solid Minerals Potential, Dr. Daere Akobo, Group Chief Executive Officer of Pana Holdings, disclosed that the state holds two of Nigeria’s greatest untapped assets—gas reserves estimated at 35 trillion cubic feet (TCF) and abundant deposits of solid minerals such as limestone, barite, gold, granite, quartz, manganese, and rare earth metals.
According to him, these resources, if responsibly developed, have the capacity to power industries, expand access to affordable cleaner energy, and generate thousands of jobs for indigenes.
He proposed the creation of a Joint Venture Company with CALA Infra to spearhead gas infrastructure and solid minerals development, alongside forming a joint working group to interface with regulators, attracting international partnerships through roadshows, and implementing skill acquisition programs to build local expertise.
Dr. Akobo stressed that the collaboration is a step toward making Cross River a competitive destination for investment, energy, and mining in Nigeria.