The Cross River State Council on Privatization has received bids for the privatization of the Nsadop Oil Palm and Boki Oil Palm Estates, located in the Central Senatorial District of the state.
According to the Council Chairman, Chief Bassey Okon, the technical bid opening exercise aims to revive moribund state assets and put them to productive use, creating employment opportunities for citizens.
He emphasized that the Governor’s approach to privatization is rooted in the people-first mantra of his administration and ensuring that development trickles down to the grassroots.
“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. One of the Governor’s key priorities is to develop the state through mechanized agriculture, and these estates present a vast opportunity in that regard,” he stated.
The combined land area of the Nsadop and Boki Oil Palm Estates is approximately 10,000 hectares, with the potential for expansion of the land area and to create jobs for about 6,000 people. Following public advertisements, interested firms submitted their bids for evaluation.
Speaking at the event, the Managing Director/CEO of Presco Plc, Mr. Reji George—whose company, a member of the Siat Group, submitted a bid—expressed optimism about the project.
“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, potentially expanding if more land becomes available. We also pride ourselves on maintaining excellent relationships with host communities,” he said.
The bidding session was witnessed by representatives from the Ministry of Trade and Investment, Ministry of Finance, Ministry of Agriculture, and other key MDAs, including the Special Adviser to the Governor on Public Affairs, Mr. Nsa Gill.
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