Cross River State has opened technical bids for the privatization of Erei Farm Settlement Oil Palm Estates, which comprise Ikun, Urugbam, and Egbor Oil Palm Estates, all in Biase Local Government Area.
The two investors who have expressed interest in acquiring the estates according to a statement on Tuesday by the governor’ spokesman, Gill Nsa are El-Darl Farms Limited and Bella Van Baass Limited.
Speaking at the bid-opening event in Calabar, the Director-General of the Cross River State Council on Privatization, Chief Bassey Okon, emphasized the administration’s commitment to economic growth through strategic private-sector partnerships.
“We are here to open the technical bids for the oil palm estates. These estates, originally established in 1961 under the Eastern Nigerian Development Corporation, have long been due for revitalization,” Okon stated.
He noted that years of neglect by past governments, lack of reinvestment, and community disputes had contributed to the estates’ decline.
However, according to him, the administration of Governor Bassey Otu is determined to reverse this trend.
“Most of these estates have not been replanted in decades, despite agricultural best practices recommending periodic replanting for sustained productivity.
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“The people-first agenda of this government ensures that every initiative prioritizes economic empowerment, job creation, and sustainable development,” he added.
The bidding process marks a crucial phase in the state’s privatization efforts, allowing technically qualified and financially capable firms to take over operations.
Cecilia Elu Adie, representative of the Director General, Due Process and Intelligence at the Privatization Council, urged the evaluation team to ensure a transparent and credible selection process.
“Keep sentiments aside and do your best to move our team forward. This is a major step in repositioning Cross River’s agricultural sector, and we must ensure due diligence at every stage,” she said.
Itafa Ogar, legal representative of Eldar Farms Limited, commended the government’s privatization initiative, describing it as a bold step toward revitalizing the state’s agricultural economy.
He said “Cross River State has vast agricultural potential, and this move is key to unlocking it. We at Eldar Farms are proud to be co-stakeholders in this process and are optimistic that it will create jobs and foster economic growth.”
The technical bid opening is the first phase of a multi-stage process. Successful companies will proceed to financial and operational assessments before final selection.
With this initiative, Cross River State under Gov. Otu, reaffirms its commitment to leveraging private sector expertise to transform agriculture into a key driver of economic growth
