As part of its efforts to double its Foreign Direct Investment (FDI), the Cross River State Government has concluded plans to hold its maiden Diaspora Investment Summit in London, United Kingdom (UK).
The initiative is part of a broader economic recovery plan by the state government to reposition Cross River as a preferred investment destination in West Africa, leveraging its tourism appeal, agricultural endowments, and the global influence of its diaspora community.
As gathered, the government aimed to surpass the $1 billion in FDI realised following the International Cooperation and Investment Summit.
In his first 100 days in office, the governor also attracted an additional $15 million private-sector investment into the Ayip Eku Oil Palm Estate, restructured state debts, and introduced new plans to clear a ₦24bn backlog of gratuities owed to retirees.
Chairman of the Cross River State Diaspora Commission, Prince Okor, disclosed this on Tuesday during a courtesy visit to the Nigeria Union of Journalists (NUJ), Cross River State Council, in Calabar.
Okor said the summit, billed for November 16–18, will serve as a platform to connect the state with UK-based investors, business groups, and development partners interested in tapping into the state’s vast economic potential.
“We are looking at some possible investment inflows, considering the level of interest already signaled by investors abroad. The idea is to take Cross River directly to the global investment community instead of waiting for them to come to us,” Okor stated.
He explained that the Commission opted for London as a venue because of its large concentration of Nigerian professionals and global capital hubs, which would make engagement more effective and less costly.
The chairman also unveiled a series of diaspora-related activities lined up from September to December, including the hosting of 300 Caribbean returnees in October for a cultural and investment homecoming. The visitors, drawn from Barbados, Jamaica, and Grenada, are expected to take part in an investment summit in Calabar, a carnival dry run, traditional induction ceremonies, and exchange programmes with local universities.
Okor stressed that all the initiatives were designed as economic drivers, not just festivities.
“Many of these returnees are entrepreneurs and innovators. They are coming with business ideas, technical know-how, and capital. What we are doing is creating the right environment to absorb these opportunities for the benefit of the state,” he added.
On her part, Chairman of NUJ Cross River Council, Archibong Bassey, commended the Diaspora Commission for the initiative and pledged the support of the media in publicising the programmes.
“This is the kind of forward-thinking policy that can transform our state. The media will go all the way with you to ensure success,” Bassey assured.
The Commission’s activities will begin with the commissioning of its new office in Calabar on September 5, and will climax with the official Diaspora Day celebration from December 11–13, which has been gazetted as part of the state’s annual carnival calendar.
