Governor of Cross River State, Senator Bassey Otu has called on the United Nations, World Bank and other multilateral agencies to help bridge the global economic gaps between African and other develop countries of the world.
Speaking when he received a World Bank delegation in his office in Calabar, the state capital, the governor said: “My call to the World Bank is for them to strive to balance the world’s economy.
“We still have a lot of migrant pressures across the world. This is because the global economy is not stable. Once the economy is unbalanced, there is always going to be that pressure.
“It is time for things to be relaxed for other regions to grow at their own pace. International organizations like the World Bank and United Nations should make effort to ensure that things are balanced.”
The team was in the Cross River State on a fact-finding mission to federal government agencies in the state, as well as looking at issues limiting trans-African free trade.
Otu emphasised that it has become imperative to reduce the barriers inhibiting free trade, especially in the Africa region.
The Governor told the World Bank team that the state government, in collaboration with the Calabar Chamber of Commerce, Industry, Mines and Agriculture (CALCIMA), was working on a project to enhance better economic outputs in line with global standards.
He called on international investors to take advantage of the many opportunities for investment in Cross River State, buttressing that they are comparatively advantageous in the Gulf of Guinea, both in terms of proximity and cultural affinity.
Otu called on the World Bank to help in harnessing the economic potentials inherent in the State, informing that Cross River is rated among the two best states for ease of doing business in Nigeria.
“In Cross River, we have all it takes in terms of resources and productivity. But there still lies some variance. You are coming at a more auspicious time where windows of economic development have to be open. We happen to be quite a blessed state with three corridors of wealth – water, land and air.
“There is no excuse whatsoever for Cross River not to move up the socioeconomic ladder. Those times have passed. We want to truly move forward,” the governor enthusiastically stated.
Speaking, the World Bank team lead, Aleksandar Stojorov, thanked the governor for his support and cooperation which enabled the delegation to visit the Nfum border in Etung local government area, and the Nigeria Ports Authority, Calabar.
He said the fact-finding mission will help his team on its engagement with the federal government of Nigeria’s Ministry of Trade and Investment as well as other related agencies, with the objective to make trans-African trade seamless, enhance its export competitiveness for the overall benefit of the state and nation at large.
