Cross River Gov't Privatises 3 Oil Palm Estates to Boost Agriculture.

 

The Cross River State Government has officially launched the privatisation of its oil palm estates, marking a significant step towards boosting the state’s agricultural economy.

The initiative involves three oil palm estates located in Biase Local Government Area, namely Ikun, Urugbam, and Egbor Oil Palm Estates.

At the bid-opening ceremony held in Calabar on Monday, the Director-General of the Cross River State Council on Privatisation, Bassey Okon, emphasised that the privatisation effort aims to increase productivity, generate jobs, and stimulate economic growth in the state.

He highlighted that the move aligns with the administration’s commitment to fostering economic growth through strategic partnerships with the private sector.

“The oil palm estates have been in decline for decades, and it’s time for us to inject private sector expertise and investment to revamp the sector,” Okon stated.

Okon assured that the privatisation process would be both transparent and competitive, with interested investors required to submit both technical and financial bids.

“We are opening the technical bids for these oil palm estates, which were originally established in 1961 under the Eastern Nigerian Development Corporation. These estates have long been overdue for revitalisation,” Okon explained.


He attributed the estates’ decline to years of neglect by previous governments, lack of reinvestment, and ongoing community disputes.

“Most of these estates have not been replanted in decades, even though agricultural best practices call for periodic replanting to sustain productivity. The people-first agenda of this government ensures that all initiatives prioritise economic empowerment, job creation, and sustainable development,” he added.

Cecilia Adie, a representative of the Director General of the Due Process and Intelligence at the Privatisation Council, also spoke at the event. She urged the evaluation team to ensure a transparent and credible selection process.

“Leave sentiments aside and do your best to move our team forward. This is a critical step in repositioning Cross River’s agricultural sector, and we must ensure due diligence at every stage,” Adie emphasized.

Itafa Ogar, the legal representative of Eldar Farms Ltd, commended the government’s privatisation initiative, calling it a bold step towards revitalizing the state’s agricultural economy.

“Cross River State has vast agricultural potential, and this move is key to unlocking it. We at Eldar Farms are proud to be co-stakeholders in this process and are optimistic that it will create jobs and foster economic growth,” Ogar remarked.

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