The governor announced this in a statewide broadcast of his first anniversary in office. He said that the various industries that his predecessor established across the state were meant to generate employment for the citizens and generate revenues for the state, but such have not played out. According to him: 'The emerging indices from these establishments are in the negative. For these reasons, the state government has deemed it necessary to revoke those agreements.
'A new concessionary agreement has been worked out in order to ensure the smooth and economically viable operation of the Noodles Factory, the Calachika Feed Mill Factory, etc.' The Speaker of the Cross River State House of Assembly, Elvert Ayambem, had earlier declared that the former governor obtained frivolous loans and concessioned the factories to himself and his cronies, adding that there were lots of questionable deals that transpired during his administration.
Source: News Formal (newsformal.com)
Cross Rivers Otu
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