By Admin.

Governor Bassey Otu of Cross River in his quest to boost energy as a catalyst and enabler of industrialisation declared the 2024 Cross River State Energy Conference and Exhibition open in Calabar, with the Theme: “Redefining the Energy Architecture of Cross River State.”

 

 

According to Otu, his administration is aligning with President Bola Ahmed’s “Renewed Hope Agenda” with his “People’s-First,” with emphasis on sustainable fuels, as a critical component for industrialisation to advance national growth and development, he welcomes participants and urges them to take advantage of the auspicious opportunity for fruitful deliberation.

 

“Energy is among the first-line enablers of industrialization; hence a catalyst for national economic growth and development. Nigeria is undoubtedly blessed with both fossil and renewable energy resources with the potential to provide sufficient and efficient energy needs of the country if properly harnessed.

 

“Cross River State as a sub-national is also greatly endowed with these natural deposits for energy production. For renewable, the abundant sunshine could be tapped to provide solar energy, the stretching coastline of the State has the potentials to produce wind energy by installing wind turbines; while the abundant food and cash crop by-products could be harnessed to produce biofuel.

 

“Apart from our enormous gas reserve deposit for fossil energy, the State is also endowed with titanium, feldspar, tourmaline, manganese, lithium, etc. for clean energy transition.

 

 

 

Otu said on assumption of office and with the energy potentials and its attendant comparative advantage to the State and coupled with the National Assembly amendment of the energy law by moving it to the concurrent list, he had to immediately take advantage of the window.

 

 

“Cross River State is poised to be a major player in the renewable energy drive. However, while we are pursuing the fossil-renewable switch as a gradual transition, we also need to expand the fossil-based energy resources to ensure availability and affordability; especially in our rural areas, for reasons of environmental friendliness and sustainability;

 

“With these energy potentials at our disposal, when I assumed office as the Governor of the State, I made far-reaching decisions and took concrete steps at harnessing these resources. Coupled with the National Assembly’s amendment to the energy law; removing it from Exclusive to the Concurrent List, the State is open to potential investors for possible partnership in the provision of clean and affordable energy for the citizenry.

 

“As a State, we are poised to de-risk to the barest minimum, whatever challenges investors may counter. Among these are legal issues and the repatriation of profits.

 

 

 

Governor Otu reminded participants that the only way to achieve the objective of the conference is through robust deliberations that will translate to tangible projects with a multiplier effect on the socioeconomic well-being of the citizenry thus;

 

“To achieve the foregoing, this conference is therefore a veritable platform for us to reiterate our commitment towards the positioning of the State as an energy hub; with envisaged centres for Compressed Natural Gas (CNG), Liquefied Petroleum Gas (LPG) Processing Plant, Electric Vehicle (EV) parts manufacturing plants etc.

 

“A berth of investment in any of these energy sources in the State is therefore a guaranteed economically viable venture with huge growth potentials. Besides, for being among the pioneer investors in these areas, there are other investment-friendly packages that are yet to be unveiled by the Government of Cross River State,” he said.