The Cross River State Council on Privatisation has taken a major step toward reviving two of the state’s dormant agricultural assets, the Nsadop Oil Palm Estate and the Boki Oil Palm Estate, by opening technical bids from prospective investors.

Council Chairman, Chief Bassey Okon, said the process is part of the state government’s strategy to breathe new life into moribund state-owned properties, turning them into engines of economic activity and job creation.

According to him, the exercise reflects the governor’s people-focused vision, which prioritises development that reaches the grassroots.

“We are working with clarity and focus in line with the government’s vision,” Okon explained. “The open bidding process targets credible companies with proven capacity. Mechanised agriculture is one of the governor’s key priorities, and these estates present a vast opportunity to drive that agenda.”

Spanning a combined 10,000 hectares in the Central Senatorial District, the two estates have the potential to employ about 6,000 people, with room for expansion. The bidding followed a public call for expressions of interest, attracting several firms eager to participate in the estate’s revival.

Among them is Presco Plc, a subsidiary of the Siat Group, whose Managing Director/CEO, Mr. Reji George, expressed confidence in the project.

“We have visited the land, conducted due diligence, and are excited to submit our technical bids.

“Presco has a track record of fostering development wherever we operate, and we intend to deliver world-class production facilities here. We are also committed to maintaining strong relationships with host communities.” George said.

The bid opening was witnessed by officials from the Ministries of Trade and Investment, Finance, and Agriculture, alongside other key MDAs and the Special Adviser to the Governor on Public Affairs, Mr. Nsa Gill.