The Cross River Water Infrastructure sector is set for a major transformation following the signing of a $42 million Public-Private Partnership (PPP) agreement between the Cross River State Government and Agua Global Services Limited. The deal aims to revive the state’s struggling water facilities and improve access to clean and safe water for residents across Cross River State.
Government officials and project stakeholders believe the initiative will help solve years of water supply challenges while creating a sustainable framework for future development.
State Government Seals Strategic PPP Agreement
The Cross River State Government entered into the agreement with Agua Global Services Limited as part of efforts to restore critical water infrastructure.
The transaction received structuring support from Core Trust and Investment Limited, a Lagos-based investment bank. The firm worked through its international partnership with Bridgetop Capital Partners.
Bridgetop Capital Partners is led by its Corporate Attorney and Founding Partner, Mr. Vincent Nyeko.
The agreement marks a significant milestone in the state’s efforts to modernise public utilities. It also reflects a growing reliance on private sector participation to address infrastructure deficits.
As a result, the project has attracted attention from both local and international investors interested in supporting the initiative.
Investors Show Interest in Funding Project
Stakeholders have already reported strong interest from debt and equity investors. These investors are expected to contribute towards raising the required $42 million needed for the project.
The investment opportunity highlights growing confidence in the viability of the proposed reforms.
Earlier, Core Trust and Investment Limited secured a mandate from the Cross River State Government to identify and attract a suitable private investor. The objective was to upgrade and revitalise Cross River State Water Board Limited.
The water board remains a company fully owned by the state government.
To ensure transparency, Core Trust conducted a competitive bidding process. Following the evaluation exercise, the firm prequalified Agua Global Services Limited alongside several other companies.
Afterward, it submitted its findings and recommendations to the state government.
Due Process Led to Final Selection
The Cross River State Government carried out additional assessments before selecting the preferred investor.
The Cross River State Bureau of Public Partnerships supervised the due diligence and review process. Officials evaluated all shortlisted companies before approving the final arrangement.
This approach ensured compliance with established procurement and partnership guidelines.
Consequently, stakeholders expressed confidence that the project would deliver long-term value to residents and investors alike.
Project Targets Water Facilities and Supply Expansion
The agreement brings together the Cross River State Water Board and a consortium of technical and financial partners.
Under the arrangement, stakeholders will rehabilitate existing water facilities across the state. They will also replace ageing and damaged pipelines that currently limit efficient water distribution.
In addition, the project includes improvements to water treatment and quality management systems.
Authorities also plan to expand supply networks to reach more communities. This will increase access to potable water in urban and rural areas.
The implementation framework will run for 25 years. Therefore, the partnership aims to provide long-term solutions rather than short-term interventions.
Officials believe the project will strengthen service delivery and improve public health outcomes throughout the state.
Water Board Describes Deal as Historic Milestone
Speaking during the signing ceremony, Managing Director of the Cross River State Water Board, Godwin Nyiam, described the agreement as a major breakthrough.
According to him, the signing marks the successful conclusion of years of reforms, negotiations, and planning efforts.
Nyiam noted that the project represents a decisive move toward ending more than a decade of water scarcity challenges in the state.
He also expressed optimism that the partnership would restore confidence in the water sector and improve access to reliable services for residents.
Furthermore, he stated that the initiative could serve as a model for future infrastructure partnerships within the state.
The Cross River Water Infrastructure project represents one of the state’s most ambitious utility reforms in recent years. Through the $42 million PPP agreement with Agua Global Services Limited, the government hopes to restore ageing facilities, improve water quality, and expand access to clean water.
With investor interest already growing and implementation planned over the next 25 years, the project could play a vital role in addressing long-standing water supply problems while supporting economic and social development across Cross River State.
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