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Cross River concession Obudu Ranch Resort for 25 years
🇳🇬 Nigeria /Economy & Trade

Cross River concession Obudu Ranch Resort for 25 years

From Premium Times · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News From a news agency New plan
  • The Cross River State Government has concessioned the Obudu Ranch Resort to Living Curation Real Estate Limited for 25 years.
  • The agreement aims to comprehensively rehabilitate and develop the resort into a globally competitive tourism destination.
  • This deal is expected to stimulate economic activities, create jobs, and empower local communities, particularly women.

The Cross River State Government has finalized a 25-year concession agreement for the Obudu Ranch Resort with Living Curation Real Estate Limited. The deal, signed in Calabar, marks a significant step in Governor Bassey Otu's tourism development agenda.

The concession is expected to transform these iconic tourism assets into a world-class tourism, hospitality, scientific, eco-tourism and conservation destination, in line with the governor’s vision to restore the state’s position as Nigeria’s leading tourism destination.

— Ededem AniThe State’s Attorney-General and Commissioner for Justice explaining the scope and vision of the concession agreement.

The agreement mandates the comprehensive rehabilitation and development of the resort, including the Utanga Safari Lodge and Bebi Airstrip. The goal is to transform these iconic assets into world-class tourism, hospitality, scientific, eco-tourism, and conservation destinations. This initiative aims to restore Nigeria's position as a leading tourism hub.

State Attorney-General and Commissioner for Justice, Ededem Ani, highlighted the administration's commitment to attracting private sector investment to unlock the state's tourism potential. He emphasized that the project would stimulate economic activities in host communities through investments, job creation, and empowerment programs, with women being major beneficiaries.

The concession will run for 25 years, after which the rehabilitated facilities will revert to the state government.

— Ededem AniThe State’s Attorney-General and Commissioner for Justice detailing the terms of the agreement.

Amit Ghosh, representing the concessionaire, thanked the governor for the confidence placed in the company. He pledged to deliver a world-class tourism and hospitality destination aligned with the administration's vision. The concession agreement stipulates that the rehabilitated facilities will revert to the state government after the 25-year term.

world-class

— Amit GhoshA representative of the concessionaire pledging to deliver on the project's vision.
DistantNews Editorial

Originally published by Premium Times in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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