The Cross River State Government has concessioned the Obudu Ranch Resort to Living Curation Real Estate Limited for a period of 25 years.
The News Agency of Nigeria reports that the agreement was signed between the state government and the concessionaire on Friday in Calabar.
The State’s Attorney-General and Commissioner for Justice, Ededem Ani, who signed on behalf of the government, said the agreement covered the comprehensive rehabilitation and development of the resort.
Mr Ani described the deal as a milestone in the implementation of Governor Bassey Otu’s tourism development agenda.
He said it reflected the administration’s commitment to attracting strategic private sector investment to unlock the full potential of the state’s tourism assets.
