Tag: C’River govt

  • C’River govt revokes Obudu cattle ranch concession

    C’River govt revokes Obudu cattle ranch concession

    Gov. Bassey Otu of Cross River has revoked the concession agreement granted to CIBA Construction Company Limited for the management of the Obudu Cattle Ranch.

    The termination was communicated through a letter signed by the state’s attorney general and commissioner for justice, Mr Ededem Ani.

    The letter cited by the News Agency of Nigeria (NAN) detailed CIBA’s material breaches and justified the state’s decision.

    According to Ededem, the company neglected key development obligations, particularly those outlined in Sections 5.0, 6.0, and 14.0(b) of the agreement.

    ”These violations include the failure to invest in the renovation of the resort’s hotel and other essential components.

    “Despite multiple breaches, CIBA continued to fall short, prompting the Cross River Government to terminate the agreement with immediate effect,” he said.

    In revoking the concession, the governor directed the Special Adviser and Chief Executive Officer (CEO), Obudu Ranch Resort, Mr Sunday Michael, alongside other key stakeholders, to implement measures to revamp the facility.

    Michael, who also confirmed the termination of the 25-year agreement which the state entered into with CIBA in 2017, attributed the company’s failure to fulfil its contractual obligations to the reason for the development.

    The concession, granted during the administration of Sen. Ben Ayade, tasked CIBA with designing, financing, building, operating, maintaining, and ultimately transforming the ranch under a Public-Private Partnership (PPP).

    The Obudu Cattle Ranch, also known as Obudu Mountain Resort, was developed in 1951 by a Scottish rancher named M. McCaughey.

    The Ranch was, however, remodelled and made a tourist attraction by the Donald Duke-led administration between 1999 and 2007.

    The Ranch was one of Duke’s numerous iconic tourism projects in Cross River.

    He fixed the twining road network to the hilltop, built stunning chalets and aerial tramways (cable cars), and generally upgraded its infrastructures.

    However, successive administrations in the state failed to build on Duke’s legacy and subsequently led to a huge decline in terms of patronage and amidst deteriorated facilities. (NAN)

  • $3.5bn Bakassi deep seaport will be funded without loan – C’River govt

    $3.5bn Bakassi deep seaport will be funded without loan – C’River govt

    Gov. Bassey Otu of Cross River says the Bakassi Deep Seaport project will be funded without the state taking any loan facility.

    Otu said that the project, a flagship of his administration, though not conceptualised by his government, would change the economic landscape of the state and that of the country at large.

    The governor disclosed this at a media parley with selected journalists in Calabar on Tuesday.

    He explained that the Bakassi Deep Seaport project was purely investor-driven and estimated to cost about $3.5 billion.

    He added that all that was required of the state was to carry out all the preliminary works needed for the actual construction work to commence.

    According to him, the Seaport project will change the economic fortune of the state; it will be the best, and the groundbreaking ceremony will come soon.

    “The government is not borrowing any money to fund this project; the fund will be provided by the investor through AFREXIMBANK.

    “As we speak, work is going on there on a daily basis. Basically, what is being done now is the hydrographic, geophysical, and geotechnical survey for the proposed Deep Seaport Integrated Project.

    “The survey is essential to ensuring the port’s structural integrity and functionality, as it will generate data crucial to the project’s design and execution.”

    Otu noted that his administration was in a hurry to transform the state, adding that every sector of the state economy would be attended to under his watch.

    He also revealed that his administration had embarked on the reconstruction of 100 primary health care centres across the state as part of efforts to take care of the health needs of the rural communities.

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    “The same is also going on in the education sector, where we will be launching students’ scholarships in a fortnight,” he added. (NAN)