Cross River Privatization Council Draws Big Players For Oil Palm Fortune

The Cross River State Council on Privatisation has officially received bids for the planned privatisation of the Nsadop Oil Palm and Boki Oil Palm Estates, situated in the Central Senatorial District of the state, ACCORDING TO IREPORTER ONLINE.

Council Chairman, Chief Bassey Okon, revealed that the technical bid opening exercise was designed to revive moribund state assets, transform them into productive ventures, and create much-needed jobs for citizens.

He stressed that the Governor’s privatisation strategy aligns with the “people-first” mantra of his administration, ensuring that development benefits even the most rural communities.

“We are working with clarity and focus in line with the government’s vision.

This open bidding process is targeted at credible companies with proven capacity,” Okon stated.

He noted that one of the Governor’s key priorities is to leverage mechanised agriculture for state development, and the oil palm estates offer vast potential to achieve this goal.

ACCORDING TO IREPORTER ONLINE, the combined land area of the Nsadop and Boki Oil Palm Estates is around 10,000 hectares, with significant room for expansion and the possibility of creating up to 6,000 jobs.

Following public advertisements, several firms submitted their bids, which are now under evaluation.

At the event, Mr. Reji George, Managing Director/CEO of Presco Plc—a member of the Siat Group—expressed his company’s enthusiasm after submitting its bid.

“We have visited the land, conducted due diligence, and are excited to submit our technical bids. Presco has a strong track record of bringing development wherever we operate.

We are committed to this project and confident in our ability to deliver world-class production facilities here, with potential for expansion if more land becomes available.

We also pride ourselves on maintaining excellent relationships with host communities,” he said.

The bidding session was attended by officials from the Ministry of Trade and Investment, Ministry of Finance, Ministry of Agriculture, and other key MDAs, alongside the Special Adviser to the Governor on Public Affairs, Mr. Nsa Gill, ACCORDING TO IREPORTER ONLINE.

”IREPORTER REPORTS”