Cross River State Signs 25-Year Concession Deal for Obudu Ranch Resort

The Cross River State Government has concessioned the Obudu Ranch Resort to Living Curation Real Estate Limited for a period of 25 years. The agreement, signed on Friday in Calabar, covers the comprehensive rehabilitation and development of the resort, including Utanga Safari Lodge and the Bebi Airstrip.

Attorney-General and Commissioner for Justice, Ededem Ani, who signed on behalf of the government, described the deal as a milestone in Governor Bassey Otu’s tourism development agenda. He said the concession will attract strategic private sector investment to unlock the full potential of the state’s tourism assets.

Mr Ani noted that the project will stimulate economic activities in host communities through job creation, empowerment programmes, and increased business opportunities, with women set to be major beneficiaries. Under the terms, the concession runs for 25 years, after which rehabilitated facilities revert to the state.

Amit Ghosh, representing Living Curation Real Estate, thanked Governor Otu for the confidence and pledged to deliver a world-class tourism and hospitality destination in line with the administration’s vision.

Article and image source: premiumtimesng.com