Governor Bassey Otu of Cross River State has disclosed that various leakages in international border trade between Nigeria and Cameroon result in losses exceeding $15 million. He lamented that the burgeoning trade at the Mfum International Border does not yield any meaningful revenues to the state tax net.
He advised that the substantial trans-African trade through the border be closely monitored. Otu spoke when he hosted a team from the World Bank in Calabar, the state capital. The team was in Cross River State on a fact-finding mission to federal government agencies in the state, as well as to examine issues limiting trans-African free trade.
We happen to be quite a blessed state with three corridors of wealth - water, land, and air. 'There is no excuse whatsoever for Cross River not to move up the socioeconomic ladder. Those times have passed. We want to truly move forward,' the governor enthusiastically stated.
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