The Governor of Cross River State, Senator Prince Bassey Edet has called on South-South states to urgently harness their vast agricultural and extractive resources to drive regional economic transformation and resilience.
The Governor, represented by his deputy, Rt. Hon. Peter Odey made this call on Wednesday, while declaring open the South-South Zonal Banking and Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CIBN), held at the Calabar International Convention Center.
In his address, Governor Otu emphasized the urgent need for states within the region to leverage their comparative advantages, particularly in agriculture, oil and gas, and solid minerals, to diversify their economies and reduce overdependence on federal allocations.
“The South-South zone as a region must now act with urgency todiversify its economy, leveraging our shared natural endowments in agriculture and extractive resources,” the deputy governor stated. “The fertile land across ourzone gives us a comparative advantage that we must convert intoprosperity through agriculture and its value chain.”
He described the conference as timely, given the growing global economic uncertainties and trade tensions, as well as the need for subnational governments to develop sustainable economic frameworks.
While highlighting that Cross River State has taken bold steps in key sectors such as agriculture, aviation, maritime, tourism, and infrastructure, he urged participants at the conference to explore investment opportunities both within the state and across the South-South region. He commended the CIBN for its foresight in organizing the conference and for choosing Cross River as host and expressed hope that the conference deliberations would chart a bold and strategic path toward the region’s economic transformation.
Earlier in his welcome address, the Commissioner for Finance and Chairman of the Conference Planning Committee, Dr. Michael Odere, emphasized the importance of decentralizing the hosting of the CIBN conference to foster inclusivity and regional engagement. He urged stakeholders to leverage ongoing economic reforms to drive socioeconomic development across the South-South region. Dr. Odere also encouraged participants to actively contribute to the discourse and offer meaningful input that would shape actionable outcomes.
In a special remarks, the President and Chairman in Council of the CIBN, Prof. Pius Olanrewaju, praised Cross River State for its hospitality and reaffirmed the Institute’s commitment to deepening financial inclusion, institutional capacity, and economic policy advocacy across the geopolitical zones.
He highlighted the vast untapped potential of the South-South region and stressed the need for coordinated support across financial, technological, and policy spheres to reposition the region for sustainable growth. He noted that financial institutions must be leveraged as catalysts for innovation, investment, and inclusive development.
The event featured goodwill messages from Hon. Okon Owuna, Member representing Akamkpa I in the Cross River State House of Assembly and Chairman, House Committee on Finance and Appropriation, as well as from the representative of the Central Bank of Nigeria (CBN) Branch Controller. The conference also included presentations by subject-matter experts, notably Professor Akpan Ekpo of the Centre for Public Policy, University of Uyo.
Deputy Governor’s Press Unit, Government House, Calabar
17/0702025
