{
  "id": 14963002,
  "title": "Cross River Secures $20m Investment for 4,000-Hectare Oil Palm Plantation",
  "url": "https://urgent.news/2026/10/16/cross-river-secures-20m-investment-for-4-000-hectare-oil-palm",
  "topic": "world",
  "section": "World",
  "published": "2026-10-16T13:05:59.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/10/16/cross-river-secures-20m-investment-for-4000-hectare-oil-palm-plantation/"
  },
  "original_language": "en",
  "account": "The Cross River State Government has inked a concession agreement with ValueFronteira Limited to develop an oil palm plantation covering 4,000 hectares in Ijiegu Yache and neighboring clans within Yala Local Government Area. The investor has pledged a $20 million investment over five years, aimed at creating thousands of jobs and enhancing agricultural production in six clans, including Ijiegu, Wonye, Uchu, Ichui, Ukani, and Ewor. This initiative aligns with the state's agricultural transformation strategy, which seeks to bolster food security, foster rural development, and uplift local livelihoods. ValueFronteira's Managing Director, Maurice Ekpong, revealed the company's commitment to injecting $20 million into the project within five years, promising substantial employment opportunities and a significant economic uplift for the host communities. The announcement was met with enthusiasm from local leaders, who expressed optimism about the potential job creation, especially for the youth, and the overall economic benefits. The Clan Head of Wonye, HRH Mohie Damian Ododo, hailed the project as a dream realized and pledged the collective backing of clan heads for its success. Other traditional authorities and community representatives also emphasized their support for the venture. Dr. Francis Ntamu, the Senior Special Assistant to the Governor and Director-General of the Bureau of Public-Private Partnerships, assured stakeholders that the concession process was transparent and competitive, resulting in ValueFronteira's selection as the preferred partner. He noted that the project has earned the State Executive Council's approval and highlighted the alignment with the government's goal of attracting investment and bolstering key sectors of the economy. The state government, through Dr. Ntamu and other officials, expressed confidence that the investment would elevate Cross River to a prominent agribusiness destination in Nigeria, while supporting broader objectives of food security, rural development, and economic empowerment.",
  "summary": "Funmi Ogundare The Cross River State Government has signed a concession agreement with ValueFronteira Limited for the development of a 4,000-hectare oil palm plantation in Ijiegu Yache and adjoining clans",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}