Cross River Secures $20m Investment for 4,000-Hectare Oil Palm Plantation

Cross River Secures $20m Investment for 4,000-Hectare Oil Palm Plantation Funmi Ogundare The Cross River State Government has signed a concession agreement with ValueFronteira Limited for the development of a 4,000-hectare oil palm plantation in Ijiegu Yache and adjoining clans in Yala Local Government Area of the state, with the investor committing more than $20 million to the project over five years. The project, which is expected to create thousands of jobs and boost agricultural production in six clans including Ijiegu, Wonye, Uchu, Ichui, Ukani and Ewor, is part of the state government’s agricultural transformation agenda aimed at strengthening food security, promoting rural development and improving livelihoods. Speaking at a stakeholders’ meeting and site handover ceremony held in Ijiegu Yache, Cross River State, the Managing Director of ValueFronteira Limited, Maurice Ekpong, explained that the organisation would invest over $20 million within five years to establish the plantation. He stated that the project would generate thousands of employment opportunities and significantly transform the economies of the host communities and Cross River State. Ekpong’s announcement was welcomed by traditional rulers, community representatives, youths and women leaders, who expressed optimism that the investment would create jobs, particularly for young people, while improving economic activities and livelihoods across the communities. The Clan Head of Wonye, HRH Mohie Damian Ododo, described the project as a dream come true, pledging the collective support of the clan heads for its successful implementation. He also affirmed ValueFronteira as a corporate member of Yache land. Other traditional rulers and representatives at the event included HRH Mohie Isaac Omaji, Clan Head of Ijiegu; HRH Mohie Innocent Okaiiba Aji, Clan Head of Ichui; HRH Mohie Ogar Idazor, Clan Head of Ukani; Augustine Obozor, representing Ewor Clan; and Pius Idagu, representing Uchu Clan. In his remarks, the Senior Special Assistant to the Governor and Director-General of the Bureau of Public Private Partnerships, Dr. Francis Ntamu, assured stakeholders that the concession process was transparent and competitive, leading to ValueFronteira’s emergence as the preferred investor. He disclosed that the project had received the full approval of the State Executive Council (SEC), adding that: “It aligns with the government’s drive to attract investment and strengthen critical sectors of the economy.” He expressed the state government’s hope that the investment will contribute to positioning Cross River as a major agribusiness destination in Nigeria, while supporting its broader objectives of food security, rural development and economic empowerment. “The development is expected to expand commercial agricultural activities in Yala, create employment opportunities and stimulate economic growth in the host communities,” Ntamu stressed. The government delegation also included the Permanent Secretary, Ministry of Environment and Solicitor-General of the state, Rosemary Onah, and Brian Ugbe, a Director in the Ministry of Agriculture, who represented the Commissioner for Agriculture.