Cross River State government, has secured $3.5 billion in funding from the Pan-African multilateral financial institution, African Export-Import Bank (Afrexim Bank) for some of its key infrastructure projects in the state.
The key infrastructure projects to be supported by AFRIEXIM include:- the Bakassi Deep Seaport and 217km Superhighway Integrated Project, as well as the Obudu Cattle Ranch and Mountain Resort project.
The Bakassi deep seaport will be part of a 7,000-hectare Bakassi industrial park. When completed, it will be the biggest and deepest port in Nigeria. It will not just decongest Lagos but serve Northern Nigeria, Eastern Nigeria, and Central Africa.
The approved 217km super highway will run from Bakassi, the deep sea port at Esighi in Bakassi Local Government Area run through the Cross River National Park, through Ikom and Ogoja to the Ranch Resort in Obudu and up to Katsina-Ala in Benue State.
One great thing about this highway is that while it opens up the state to more economic activities, it also shortens the drive time from Calabar to Obudu Cattle and Tinapa Resort (presently 7 hours).
While FG and the state government of Calabar make an effort to revive the Obudu cattle ranch and Tinapa Free Trade zone, the superhighway becomes hugely important.
