The Government of Cross River held its maiden Energy Conference and Exhibition in Calabar on Monday with the theme: “Redefining the Energy Architecture of Cross River State, using Sustainable Fuels”.
The event, graced by Captains of industries and Investors, was premised on the national “Renewed Hope Agenda” of President Bola Tinubu.
In his remarks, Gov. Bassey Otu said energy was among the first line enablers of industrialization, hence a catalyst for national economic growth and development.
He asserted that Nigeria was undoubtedly blessed with both fossil and renewable energy resources with the potential to provide sufficient and efficient energy for the country if properly harnessed.
He said Cross River, as a sub-national, was also greatly endowed with these natural deposits for energy production.
“For renewables, the abundant sunshine could be tapped to provide solar energy, and the stretching coastline of the state has the potential to produce wind energy by installing wind turbines.
“Similarly, the abundant food and cash crop by-products could be harnessed to produce biofuel.
“Apart from our enormous gas reserve deposit for fossil energy, the state is also endowed with titanium, feldspar, tourmaline, manganese, and lithium, among others, for a clean energy transition,” he said.
He stated that since the world was gradually transitioning from fossil to sustainable energy sources for reasons of environmental friendliness and sustainability, Cross River was poised to be a major player in the renewable energy drive.
He, however, noted that while the nation pursues the fossil-renewable switch as a gradual transition, it also needs to expand its fossil-based energy resources to ensure availability and affordability, especially in rural areas.
He said Cross River was poised to de-risk to the barest minimum, whatever challenges investors may encounter; among these are legal issues and repatriation of profits.
“To achieve the foregoing, this conference is therefore a veritable platform for us to reiterate our commitment towards the positioning of the state as an energy hub.
Besides being among the pioneer investors in these areas, there are other investment-friendly packages that are yet to be unveiled by the government of Cross River that will ensure “you don’t regret taking this bold initiative,” he said. (NAN)
