With the increasing debts of Cross River State, Governor Ben Ayade has set up a Debts Review and Projects Development Commission to ease debt burden.
Three key players in the private sector are members of the commission. They are the business and gas mogul, Chris Agara as Chairman; former Managing Director of Tinapa Business Resort, Architect Basset Ndem, as Secretary, and another entrepreneur, Mr Higgins Peters, a member.
Mr Agara said the members have held meetings and visited industries in the 18 LGAs, but have not been able to ascertain the state of the indebtedness of the state.
He said, “We are still look at the actual indebtedness of the state from advent of democracy in 1999 to date. We cannot yet confirm the extent of Cross River debts.
“We shall recommend which of them are viable and which should be privatised because we believe that the private sector succeeds better in running businesses.”