The Cross Rivers State Government has formally reclaimed the Tinapa Business Resort from the Asset Management Corporation of Nigeria.
The sprawling resort which was conceived as a business and leisure facility with Free Trade Zone status was established in 2007 by former governor of the State, Donald Duke, before being taken over by AMCON in 2011.
Speaking at the resort during a formal handing over of the facility to the State, Governor Otu described it as “a battle fought and won for all Cross River people”.
The governor said the recovery of Tinapa symbolised not just the reclaiming of a major asset but the revival of a vision that once placed Cross River on the global economic map.
“The return of Tinapa is not merely an event; it is a rebirth, the triumph of faith, patience and resilience,” he said.
He assured that his administration, under the People First Agenda, would reposition the Free Zone as a hub for trade, tourism and creative enterprise.
The governor disclosed that the state is already engaging credible investors and partners to transform the facility into a vibrant centre of commerce and job creation, operating under a transparent and accountable management structure.
He also extended appreciation to the Federal Government and relevant agencies for their cooperation in the transition process, commending all stakeholders who worked behind the scenes to make the return possible.
Also speaking, the Commissioner for Finance, Dr. Mike Odere, said the handover represents a revival of what many thought was lost forever.
“It means pride, it means reawakening, it means renewed hope as we would be free to attract investors and reposition the facility for maximum impact,” Odere said.
Executive Director of AMCON, Mr. Shola Lamide, said the corporation acquired the Tinapa asset in 2011 but struggled to attract private investors to revive the project and described the return of the resort to the state as “a win for both AMCON and the people of Cross River.”