Calabar's Economic Boom: Shettima and AfDB President Launch New Trade Hub

In Calabar, the capital of Cross River State, Dr. Akinwumi Adesina, president of the African Development Bank (AFDB), and Vice President of Nigeria Kashim Shettima have arrived for the groundbreaking ceremony of a new Export Processing Economic Zone (EPEZ).
Governor Bassey Otu, who returned to the state on Wednesday following a three-week holiday overseas, confirmed their visit.


A joyful group of supporters greeted him at the Margaret Ekpo International Airport.
The African Development Bank and the Cross River State Government collaborated to create the new EPEZ with the goal of attracting investment and accelerating economic growth.

The new zone will supplement the existing Export Processing Zone in Calabar, which is government owned.
The EPEZ is a game-changing project that has the potential to change the state's economy, generate jobs, and draw in large amounts of investment, according to Governor Otu. He said, "A new era of economic revival has begun." “The sky is the limit for Cross River.”

He also highlighted the state's strategic location as a key evacuation corridor by announcing plans for a Special Agro-Industrial Processing Zone.

He went on to say, "We are at last taking our proper position in Nigeria's economic structure."