The state’s position was stated on Wednesday by the Commissioner for Information and Orientation, Pastor Ekpenyong Cobham, who spoke on behalf of Governor Bassey Otu at a media briefing ahead of the 6th AfSNET 2026 holding in Calabar from November 12 to 14.
By Efio-Ita Nyok
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Published on November 12, 2026
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2 min read
Cross River State has expressed readiness to leverage the African Export-Import Bank’s $2 billion financing facility and the ongoing African Sub-Sovereign Governments Network Investment Conference to attract investment and revive its economy.
The state’s position was stated on Wednesday by the Commissioner for Information and Orientation, Pastor Ekpenyong Cobham, who spoke on behalf of Governor Bassey Otu at a media briefing ahead of the 6th AfSNET 2026 holding in Calabar from November 12 to 14.
Cobham said the government was prepared to use the conference and the available financing window to attract investment, particularly in agro-processing, as part of efforts to rejuvenate the state’s agrarian economy.
“With Cross River State’s agrarian economy being rejuvenated by this administration, for the first time a very deliberate attempt is being made to make sure that our diverse products are being properly processed to meet international standards,” he said.
He added that the state was ready to build a holistic economic framework that would restore its lost glory.
“The state government is ready to take advantage of that to build a holistic system that will restore the lost glory of the economy of Cross River State,” Cobham stated.
Earlier, the Director of Trade Facilitation and Investment Promotion at Afreximbank, Dr Gainmore Zanamwe, announced that the bank had opened a $2 billion financing facility for Cross River and other African sub-sovereign governments to fund bankable projects capable of transforming their economies.
Zanamwe said the facility was ready and that lack of funding should no longer be cited as a major obstacle to development.
He explained that the three-day conference would train participating states on how to access the funds, identify viable projects, and package them to meet the requirements of financial institutions and investors.
Governors and state representatives are expected to present their investment projects to prospective financiers on November 13 and 14.
