Cross River State Governor, Senator Bassey Edet Otu, is set to commence a $5 billion green economy initiative that will see the state as the first sub-national in Nigeria to achieve a netzero programme in the country.

Otu, who disclosed this in an interview with journalists in Calabar, also spoke  on the important role sub-nationals play in stimulating economic growth from stronger investor interest, and increasing economic activity through the development of a buoyant green economy.

Speaking on the benefits of green economy, against the backdrop of the state’s participation at the recently held COP28 discussion in Dubai, the United Arab Emirates, Otu said his administration had developed a set of roadmap for the exploration of green initiatives.

He said:  ‘‘To this end, our administration has developed a roadmap towards leading the sub-nationals in transitioning and creating a vibrant green economy.

”In the coming days, the state will be unveiling its various plans targeting an array of green economic sectors, including e-mobility, reforestation, power, and biodiversity. We will be taking significant strides in deepening the State’s green credentials.

‘‘This roadmap will guide the State in achieving our 5-Point Green Industrialisation Agenda, which are: To develop Cross River State into the Green Capital of Nigeria; To kick start a $5 billion Green Economy in Cross River.

”To be the first State to achieve NETZERO in Nigeria; To become a model for green industrialisation in Nigeria; and To develop projects in partnership with the private sector across a range of sectors.’

“Governor Otu, whos also noted that institutional framework would be provided by his administration for the programme, said further:  ‘

Under my leadership, Cross River State government is also committed to providing the necessary institutional support to create an enabling environment to deepen our sustainability footprint across a wide array of sectors, driving project implementation and ensuring the right building blocks for a thriving green economy.

‘‘Consequently, and in the coming days, we will be taking critical steps to underscore our commitment to this laudable aspiration, including the following:“‘‘Establishment of the Cross River State Council on Climate Change to drive the policy and framework around our climate change action; Inauguration of the Green Economic Commission to lead the effort of the state toward the actualisation of the $5 billion Green Economy in Cross River State; official flag off of the dedicated Green Manufacturing Zone, GMZ, a corridor dedicated to green manufacturing in Nigeria, supporting the entire West African region; and working with the state assembly to pass eco-friendly policies that will drive investments in sustainable projects and provide the enabling environment for sustainable projects.