Calabar is set to host the sixth African Sub-Sovereign Governments Network (AfSNET) Investment Conference from November 12 to 14, 2026. This year’s event presents a significant opportunity for Cross River State to convert international investment interest into productive industries and improved living conditions.
The conference, organized by Afreximbank in collaboration with the Cross River government, Nigeria Governors’ Forum, and the Forum of State Investment Promotion Agencies, will be held at the Calabar International Convention Centre. The central theme focuses on “The Role of Sub-Sovereigns in Catalysing Development Through Trade and Investment,” with a program that includes project showcases, discussions on Special Economic Zones, and business-to-government deal rooms.
Cross River faces challenges such as poverty, limited market access, and high unemployment, with recent data indicating that a substantial portion of the population remains multidimensionally poor. The state’s population is projected to reach 4.69 million by 2025, highlighting the urgent need for sustainable jobs and economic development strategies in agriculture, tourism, and infrastructure.
Afreximbank’s assistance is deemed crucial for promoting investment in local agriculture, which constitutes over 42% of the state’s economy. Key agricultural products like oil palm, cocoa, cassava, rice, yam, and plantain could drive job creation through value addition and processing industries. Recent commitments, such as ValueFronteira Ltd.’s $20 million investment in an oil palm plantation, signify potential growth, although successful integration with local suppliers remains essential.
The coastal region also presents opportunities for enhancing fisheries and seafood processing, with investments in logistics to reduce post-harvest losses. Upcoming projects like the Bakassi Deep Seaport promise to improve maritime connectivity and spur economic activities related to shipping and manufacturing, albeit requiring rigorous feasibility studies and funding.
Tourism development, especially in Calabar, capitalizes on the region’s heritage and attractions, such as the annual Carnival and Obudu Mountain Resort, fostering growth in the hospitality sector and related services.
In light of these opportunities, state officials are focused on ensuring local communities benefit from the investments. Proposed measures include training programs tailored for young people and small businesses to meet investors’ requirements. Furthermore, the government is encouraged to maintain transparency by publishing post-conference updates regarding investor commitments and job creation metrics.
Governor Otu emphasizes the importance of the conference in attracting both African and international investors, asserting it as a platform for building partnerships that will enable sustainable economic growth in Cross River State.
Afreximbank officials articulated the role of sub-national governments in driving Africa’s economic transformation, positioning AfSNET as a vital initiative for enhancing project preparation and connecting viable investment opportunities with necessary capital.
