Otu Commences $5bn Green Economy Programme in Cross River

Sunday Okobi

Cross River State Governor, Senator Bassey Edet Otu, is set to commence a $5 billion green economy initiative that will see the state as the first sub-national in Nigeria to achieve a netzero programme in the country.

Otu made this known when he spoke to journalists in Calabar, the state capital, yesterday on the important role that sub-nationals play in stimulating economic growth from stronger investor interest, and increasing economic activity through the development of a buoyant green economy.

Speaking on the benefits of green economy, deriving from the state’s participation at the recently held COP28 discussion, he said his administration has developed a set of roadmap for the exploration of green initiatives.

According to the governor, ‘‘To this end, our administration has developed a roadmap towards leading the sub-nationals in transitioning and creating a vibrant green economy.

“In the coming days, the state will be unveiling its various plans targeting an array of green economic sectors, including e-mobility, reforestation, power, and biodiversity.

“We will be taking significant strides in deepening the state’s green credentials.”

 Otu added: “This roadmap will guide the state in achieving our 5-Point Green Industrialisation Agenda, which are: To develop Cross River State into the Green Capital of Nigeria; To kick start a $5 billion Green Economy in Cross River; To be the first State to achieve NETZERO in Nigeria; To become a model for green industrialisation in Nigeria; and To develop projects in partnership with the private sector across a range of sectors.’’

 He also noted that institutional framework would be provided by his administration for the programme, noting that, ‘‘Under my leadership, the Cross River State Government is also committed to providing the necessary institutional support to create an enabling environment to deepen our sustainability footprint across a wide array of sectors, driving project implementation and ensuring the right building blocks for a thriving green economy.

‘‘Consequently, and in the coming days, we will be taking critical steps to underscore our commitment to this laudable aspiration, including the following: Establishment of the Cross River State Council on Climate Change to drive the policy and framework around our climate change action; inauguration of the Green Economic Commission to lead the effort of the State toward the actualisation of the $5 billion Green Economy in Cross River State.

“Official flag off of the dedicated Green Manufacturing Zone (GMZ), a corridor dedicated to green manufacturing in Nigeria, supporting the entire West African region; and working with the state Assembly to pass eco-friendly policies that will drive investments in sustainable projects and provide the enabling environment for sustainable projects.’’

 Otu further said: ‘‘Overall, we are fully persuaded that subnational governments are a critical part of achieving Nigeria’s net-zero ambition, given the proximity to projects, increasing economic influence, and the growing convening powers of state governments.

 ‘‘In Cross River State, we are committed to taking the leadership role in driving the national ambition and translating that to economic prosperity for the good people of Cross River State and, indeed, the entire sub-region.

 ‘‘We hereby invite all stakeholders, including the media, civil society, the private sector, and citizens, to join hands with us on this journey towards a sustainable and resilient future for Cross River State.’’