According to the reports, it has been stated by the governor of Cross River State, Mr Ben Ayade, the state was expecting a N10 billion investment in its rice production project in the state. The administration would work with foreign partners for the success of the project. Speaking to journalists after a meeting with President Muhammadu Buhari at the State House Abuja, Mr. Ayade informed that the state had engaged a Swiss-based company that would construct modern rice mill to ensure high input and throughput rate.
Further, it was explained that this is part of what it was discussed with the president. Since we have a special commercial credit facility, it was requested for N4.8billion.In case if we have that, it will support us. But basically in terms of the investment outlay, the investment is over N10billion and there is also a foreign element, which is a function of what the foreign partners are bringing. It was also indicated that we are also in contact with a company in Switzerland that is building a Rolls Royce category of what a modern rice mill will look like, with a very high input and throughput rate with a very high return.
In this respect, the governor further explained that the state had decided to go for the high-end technology to avoid losses during production. He explained that with some of the old rice mills, 45% losses were recorded from an input of 80% paddy. Mr. Ayade told journalists that as part of the economic reforms of the state, the Bekasi Deep Sea Port will kick off in a short while. It was narrated that the preliminary works had been completed and equipment moved to the site. The governor also added that in this regard the Environmental Impact Assessment (EIA) would soon be concluded.
Furthermore, the project is real and that is part of what it was discussed with Mr. President. The president has given his commitment that he will support the deep sea port and the evacuation corridor, which is the 260km super highway. The governor also declared support for Mr. Bukhara’s anti-graft war, saying that it had restored the business image of the country.