The Cross River Government requires over N200 billion for the rehabilitation and new infrastructure at the Obudu Mountain Resort.

The special adviser to Governor Bassey Otu on the Obudu Mountain Resort, Sunday Michael, disclosed this in an interview in Calabar on Tuesday.

Mr Michael said the rehabilitation and infrastructure included an airstrip, a 3WM power plant, and a cable car, among others.

He also mentioned plans to build housing units, which are not included in the cost.

”Several private firms from Egypt, India and a host of other foreign countries have shown interest in the rehabilitation and building of these infrastructures on the resort.

“The government is holding talks with several firms from different countries, and we are not surprised by these interests because of the potential of the resort.

“As we speak, talks have been concluded with the United Nations Industrial Development Organisation to build the power plant, which will purposely serve the resort,” Michael said.

To ensure sustainability, the special adviser said the resort will be listed on three major global stock exchanges.

“Governor Otu is trying to avoid the past experience where the resort was left to rot after the expiration of a particular administration in the state.

“When listed on the stock markets, the private sector will majorly run the place while the government takes the backseat,” he stated.

The governor’s aide also confirmed that the federal government had given the state N5 billion in support of the rehabilitation.

He said that the fund is currently being channelled into the resort’s remedial rehabilitation.

In 2017, the Cross River government, under the then-Governor Ben Ayade’s administration, entered into a public-private partnership with CIBA Construction Company Limited.

The agreement tasked CIBA with financing, building, operating, and maintaining the resort to restore its status as a premier tourist destination, with Marriott International proposed as a partner.

In March 2025, Mr Otu revoked the agreement, citing CIBA’s failure to meet core development and investment obligations, particularly the renovation of hotel facilities and other critical infrastructure.

The state government alleged that under the concession, the resort suffered significant damage and vandalism, with estimated damages of approximately ₦6.8 billion.

Officials decried the “unprecedented deterioration” and “vandalisation of facilities” as the reasons for the takeover.

(NAN)