One Stop Investment Center

The Cross River State Investment Promotion Bureau has established a OSIC Popularly known as the One Sto Investment Center to cater to all the needs of an investor. With the aim of making the process if investment as easy as possible for investors and business men world wide. With this facility you get the advantage of processing your business registrations in record time without any hassle.

Calabar Free Trade Zone

The Calabar Free Trade Zone (CFTZ) is an area just north of the port of Calabar, Cross River State, Nigeria that is occupied by companies engaged in manufacturing, trading, provision of services and oil and gas related activities. These companies benefit from special taxation rules and duty-free imports.

The enabling act for Registered Free Zones in Nigeria came into effect in 1992. The Calabar Free Trade Zone, the first of these, was fully completed by 1999 and started operation after official commissioning in November 2001. The CFTZ is owned by the Federal government.[1] As of May 2009 the power supply in the zone was erratic, with companies having to rely on diesel generators most of the time.[2] Lack of dredging in the Calabar River channel was also affecting the zone, forcing companies to rely on Port Harcourt or Lagos for import and export of goods.[3] These problems had not been addressed by December 2010, when the General Manager of the zone said the epileptic power supply, poor quality roads and non dredging of the river channel had slowed down development of the port. He said "... often times we have had cases of containers dropping from trucks due to bad roads. It is also additional cost to transport containers from Port Harcourt and Lagos to Calabar".[4]

The Tinapa Free Zone & Resort, to the north of the Free Zone, was commissioned on 2 April 2007, intended to combine business and recreational functions with duty-free shopping.[5] The legal status of the Tinapa Free Trade zone has been uncertain. It is owned by the Cross River state government, but only the Federal government can operate a free trade zone. Governor Liyel Imoke appealed to the Federal Government to take a stake in the project, and to remove uncertainty about Tinapa's status, which is hindering investment.[6]

In September 2009, Cross River Governor Liyel Imoke said the 1992 laws that established the Calabar Export Processing Zone should be overhauled to match its current status as a Free Trade Zone. He also said the 2005 gazette that made Calabar Port a Free Port should be implemented.[7] In August 2011 Olusegun Aganga, the Federal Minister of Trade and Investment, visited the Calabar Free Trade Zone and the Tinapa Business and Leisure resort. He said that the government planned an extensive review of Free Trade Zones across the country to ensure they met the requirements to attract Foreign Direct Investment and to create jobs.[8]

 

Latest News

Ayade Flag off First Ever Cross River State Health Summit. Ayade Flag off First Ever Cross River State Health Summit. 2017-10-11 -   Cross River State Is Highly Recommended By Partners for Their Passion in Healthcare Development----Health Minister.Governor of Cross River State, His Excell... More detail
Her Excellency Dr Linda Ayade Succesfully Host The Wife Of The President Mrs Aisha Buhari Her Excellency Dr Linda Ayade Succesfully Host The Wife Of The President Mrs Aisha Buhari As She Commissioned ... Her Excellency Dr Linda Ayade Succesfully Host The Wife Of The President Mrs Aisha Buhari Her Excellency Dr Linda Ayade Succesfully Host The Wife Of The President Mrs Aisha Buhari As She Commissioned Comprehensive Phc Ikom, Launched Mediatrix Foundation, 2017-10-11 - Wife of the president, Federal Republic of Nigeria, Her Excellency, Mrs Aisha Buhari today flagged-off her pet project "project future assured" at Ikom Township... More detail
Cross River to Have a Modular Refinery in 2 Years – Hon. Itaya Nyong, Commissioner for Petroleum Resources Cross River to Have a Modular Refinery in 2 Years – Hon. Itaya Nyong, Commissioner for Petroleum Resources 2017-10-05 - The Cross River State Commissioner for Petroleum Resources, Hon. Itaya Nyong has stated that the State is on the verge of having a modular refinery that will ki... More detail
Ex-Nigerian Envoy to South Korea Commends Ayade for Good Governance Ex-Nigerian Envoy to South Korea Commends Ayade for Good Governance 2017-10-04 - Former Nigerian envoy to South Korea, Ambassador Akpang Obi Odu, has commended the Cross River State Governor, Senator Ben Ayade for what he described as his im... More detail

Next Event

Garment Factory Launch
25-28 May 2016
Calabar, CRS.

About Us

We are Cross Riverians - one of the Largest, Cleanest, Safest, Greenest  States in Nigeria.

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