C'river Investment Promotions Agency conscientices young entrepreneurs ahead of business boom in Calabar.


Ahead of a perceived business boom in the capital city of Cross River State, the Investment Promotion Agency headed by Barr Rosemary Tutu Ekeng has begun sensitization of young entrepreneurs in the State about the need to prepare ahead to bridge the gap.

One of such opportunities is the proposed setting up of the Municipal Entity by the Gulf of Guinea Commission in the State and the outright domestication of 6 international protocols.

In a brief with the Special Envoy to the Gulf of Guinea, Rt. Hon. Gaul who gave a detailed outlay of his office's programs, he explained the need for young entrepreneurs in the State to prepare ahead and grab opportunities from the economic activities that will spike up from the creation of Municipal Entity.

Gaul also announced that this initiative will change the economic dynamics of the State while stressing on the need for domestic components to drive the retail process.

He reiterated on the need for young entrepreneurs to properly equip themselves not just to seize the opportunities that is about to come but to match against competing agents in standards and principles.

He disclosed a mega plan to site a Municipal City for the Gulf of Guinea countries in the State's capital, noting that such initiative will stir a boomerang in the economic peculiarities of the State.

Gual also explained the concept behind the creation of his office which he said was fully recognized by the Gulf of Guinea Commission. 

He also noted that the Free Trade Zone of the State has not being utilized because of certain factors.

“I attended the Gulf of Guinea Conference in 2016 with the Governor and the President announced Sen. Prof. Ben Ayade as Nigeria's Special Envoy to the Gulf of Guinea because Cross River is the closest Municipal Entity and the closet to the Gulf of Guinea countries”

“We have Equatoral Guinea, which is by air, 30minutes from Calabar. Sào Tomé and Príncipe which is 60 minutes and Guala which is about 35minutes”.

Gual also noted that as part of the conference’s resolutions, they where required to domestic about 6 international protocols which may not necessary be big businesses from these countries but to create an enabling environment for citizens from the Gulf Guinea to interact and Government to take advantage of these opportunities and create an economic activity around it.

An event hosted by the Department of Investment Promotions under the keen watch of the Director General, Barr Tutu Ekeng had in attendance, the Honourable Commissioner for Commerce, Pst. Mrs Rosemary Archibong, President of the Chambers of Commerce – Cross River State and notable entrepreneurs in the State.

As part of the brief, entrepreneurs decried poor funding windows and fear that this may likely push them out of the scene as it adversely affects their output.

Reacting, Barr Tutu Ekeng stated emphatically that there are arrays of funding windows available even within the purview of her office but queried the sincerity of purpose of the majority of those who seek such opportunities.

She said, “there are opportunities for funding available and I have even on a private capacity benefit from such windows. The problem is most people do not want to try these windows”

“i am urging you all to try” – she added.

Respectively, the Honourable Commissioner for Commerce also commended the efforts of the Special Envoy on such initiative, noting that it will open great windows of exploration for the young people and put Cross River State in an enviable pedestal.

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