By Joy Umo
The Cross River state government has signed a Memorandum of Understanding with Mesotho Group for the construction of the Calabar Ultramodern International Market, a major project expected to reshape commercial activities in the state capital.
The agreement, executed under a public private partnership arrangement, marks a key step in the state government’s plan to modernize trading infrastructure and boost economic growth.
Speaking at the signing ceremony, the Commissioner for Commerce, Dr. Abigail Orok, described the development as a significant milestone for the state. She congratulated Mesotho Group for emerging as the preferred bidder after a competitive selection process and assured the company of the government’s full support.
Dr. Orok said the market has been part of the administration’s vision since Governor Bassey Otu assumed office. She explained that the project would deliver a world class market with modern facilities aimed at improving the trading experience for buyers and sellers. According to her, the market will feature advanced security, a jetty and a waterfront setting, creating a clean, orderly and safe environment for commercial activities.
The commissioner disclosed that the market will be located at Esit Ebom community in Calabar South, with more than 40 plots already secured for the project. She noted that traders will be properly segmented to ensure orderliness and efficiency, adding that the new market would eventually replace the existing Watt Market, which she described as unsuitable for a modern city like Calabar.
Also speaking, the Permanent Secretary in the Ministry of Justice, Orok Okon, said the signing marked the completion of a lengthy process. He expressed confidence that both parties would adhere strictly to the terms and timelines of the agreement, while the government provides the necessary enabling environment for the project to succeed.
In his remarks, the Managing Director and Chief Executive Officer of Mesotho Group, Jerry Joseph Damara, said the company has strong expertise in market development and appealed for sustained cooperation from the state government. He emphasized that the project is designed to accommodate all categories of traders, including small scale business owners dealing in everyday goods.
Damara commended the Cross River State Government for its commitment to the project, noting that such determination would yield long term benefits for residents, traders and investors.