The Cross River State Government and Mesotho Group have signed a Memorandum of Understanding (MoU) to develop the Calabar Ultramodern International Market, a project poised to reshape commercial activity in Calabar and bolster economic vitality across the region. The landmark agreement represents a key milestone in efforts to modernize trade infrastructure and foster private sector-led growth in the state through a Public-Private Partnership (PPP).
During the signing ceremony, Dr. Abigail Orok, the Commissioner for Commerce, described the occasion as glorious for Cross River State, underscoring the significance of the project for local commerce, investment, and urban revitalization. She congratulated Mesotho Group on being selected as the preferred partner after a competitive bid process and assured stakeholders of the government’s unwavering support for the initiative.
Dr. Orok emphasized that this development reflects a long-standing vision of the state administration under Governor Bassey Otu, aimed at elevating Calabar’s economic profile. “By the grace of God Almighty, we have been able to sign the agreement for the construction of Calabar Ultramodern Market. This has been a vision of this government since Governor Bassey Otu assumed office,” she stated, highlighting the project’s alignment with broader development goals.
Central to the project’s plan is the creation of modern facilities that cater to both buyers and sellers, transforming traditional trading experiences with enhanced comfort, safety, and operational efficiency. The state government says the new marketplace will feature amenities including a jetty, advanced security systems, and scenic water views. These improvements are intended to ensure a clean, organized, and secure environment for shoppers and traders alike. “Within the next two years, Calabar will have an international market with all the facilities a modern market should have, including a jetty, top-notch security, and a water view. This will create a clean, organized and safe environment for traders and shoppers,” Dr. Orok added.
Situated in the Esit Ebom community in Calabar South, the market development already has over 40 plots earmarked to accommodate diverse sections for traders. This organized allocation is designed to encourage orderly business operations and enhance the overall trading ecosystem. Officials also believe the new facility will help phase out Watt Market, a long-standing but increasingly dilapidated commercial hub that many see as detracting from Calabar’s aesthetic and economic potential.
Representatives of the state’s Ministry of Justice echoed the sentiment that the MoU signing marks the culmination of months of preparation and negotiation. Orok Okon, Permanent Secretary, noted the administration’s readiness to provide an enabling environment for the partnership to thrive. “Today, we have put pen to paper and sealed the agreement under the PPP arrangement. We look forward to Mesotho Group doing their part, while we provide an enabling environment and all that is required from government to ensure this arrangement works,” he said.
From the investor’s side, Jerry Joseph Damara, Managing Director and CEO of Mesotho Group, reaffirmed the company’s commitment to bringing its expertise in market development to Calabar. Mesotho Group is known for delivering large-scale infrastructure projects across Nigeria, and Mr. Damara stressed the importance of collaboration with local authorities. “We are coming from Abuja to a new terrain, and your cooperation will ensure that the market works efficiently for everyone. This project is not just for high-class traders; it is for ordinary business people, including those selling fish and other everyday commodities,” he stated, affirming that the development aims to serve a broad spectrum of commercial participants.
He also lauded the resilience and focus of the state government in driving the project forward, noting that such commitment would benefit both local residents and investors.
This ultramodern market project is expected to stimulate local economic growth by attracting investors, enhancing trade efficiency, and expanding commercial infrastructure. By modernizing traditional market systems and integrating new facilities, the initiative could increase revenue generation, create jobs, and support Cross River’s broader strategy to boost investment and diversification away from oil dependency.
