… Fund to generate N150b in finance to 100,000 small farmersThe Cross River State Executive Council led by Governor Bassey Edet Otu, has approved the establishment and take-off of the Cross River State Agricultural Development Fund with a collateral of N30bn by the State Government over a six year period.
This was disclosed in a press statement issued on the key resolutions of the 18th meeting of the Cross River State Executive Council held on Wednesday, 6th December, 2023, and signed by the State Commissioner for Information, Erasmus Ekpang.
The statement reads: “His Excellency, the State Governor and Chairman-in-Council, Senator (Prince) Bassey Edet Otu, presided over the meeting with His Excellency, the Deputy Governor, Rt. Hon. Peter Odey, Commissioners and other members in attendance.
“Council deliberated on several matters of State interest and resolved as follows:
“i. Council approved in principle the establishment of a Cross River State Diaspora Agency. According to the Governor, ‘…I am aware that as a State, we have a significant population of our indigenes living and working overseas. A lot of our Diasporans maintain strong ties with the homeland but many others do not. As a Government, there is need for an institutional framework that coordinates engagements with our sons and daughters based overseas, other African Countries and even in other parts of the Country. There are mutual benefits in the existence of such governmental institution partnering with Diasporans…’
‘…as clearly enunciated in our People first Philosophy, Government entails the participation of all citizens, irrespective of their places of residence and businesses…’
“ii. Council also approved the establishment of a Faculty of Medicine in the State-owned University of Cross River. The Governor said this is to enable the State to meet its need of Medical Doctors.
“iii. Council further approved the establishment and take-off of the Cross River State Agricultural Development Fund (Project Grow) with a collateral of N30bn by the State Government over a six year period.
“The Fund is expected to generate N150bn in finance to 100,000 small farmers with special focus on five value chain; Rice, Maize, Cassava, Livestock and Fisheries. To this end, Council approved the release of N150m as take-off fund towards the implementation of the project.
“In line with the administration’s Season of Sweetness Agenda, the State Executive Council went on to approve the following:
“iv. the retrofitting of street lights along the Calabar Festival/Carnival routes with solar LED lighting system;
“v. the rehabilitation of traffic lights across major roads in the Calabar Metropolis;
“Other key approvals by Council include:
“vi. the renovation of the State Judiciary headquarters building and the Moore Road Multi-Court Building;
“vii. the rehabilitation of the Parliamentary Extension Dual Carriage road from Effio-Ette Roundabout to Technical Junction;
“viii. the rehabilitation of other dilapidated roads across the Calabar Metropolis.”
