Governor Bassey Otu of Cross River says his administration has secured a private sector investment of $15 million for the Ayip Eku Oil Palm Estate in the Akamkpa Local Government Area of the state.

Mr Otu said this when he spoke at a media pally to mark his 100 days in office in Calabar. 

He said his administration plans to leverage the state’s comparative agricultural advantage to provide employment opportunities and guarantee food security.

Mr Otu said that in addition to the oil palm investment, the government had also developed a six-year N30 billion agriculture guarantee fund for rice, maize, fisheries and livestock farmers.

He said 100 hectares of cassava would be cultivated within the next one year while the government had commenced planting 3.5 million hybrid oil palm seedlings in 13 locations across the state.

“In agric-related human capital development, the state has sponsored its indigenes to participate in cassava-bio value chain conference in Asaba-Delta for subsequent establishment of cassava-biofuel factory in the state, as well as a workshop on sustainable oil palm economy,” the governor said.

Mr Otu added, “Similarly, 50 starter-rice growers have been given free rice seedlings, fertiliser and pesticides, while 30 starter-livestock farmers have been assisted with day-old chicks and feeds.

“The objective is to leverage the multiplier effect of agriculture on employment and growth of the state’s Gross Domestic Product (GDP).”

(NAN)