The Cross River State Government has signed a $42 million Public-Private Partnership (PPP) agreement with Agua Global Services Limited to revive the state’s deteriorated water infrastructure and restore access to potable water for residents. The deal is expected to address more than a decade of water supply challenges across the state.
The agreement was structured by Core Trust and Investment Limited, a Lagos-based investment bank, in partnership with Bridgetop Capital Partners. The project has already attracted interest from local and international investors toward raising the required $42 million funding.
Under the 25-year framework, the project will focus on rehabilitating existing water facilities, replacing dilapidated pipelines, improving water quality systems, and expanding water distribution networks across Cross River State.
Speaking at the signing ceremony, the Managing Director of the Cross River State Water Board, Godwin Nyiam, described the deal as a historic turning point for the state’s water sector. He said the initiative would help end prolonged water shortages that have affected residents for years.
Nyiam noted that securing a technical partner had been difficult due to the liabilities associated with the Water Board, but expressed confidence that the partnership would transform water supply in the state.
The Managing Director of Agua Global Services Limited, Lucky Igberaese, said assessments of the state’s water infrastructure revealed severe deterioration and persistent water quality concerns, making urgent intervention necessary.
The project aligns with the administration of Bassey Otu, which has identified access to clean water as a key priority. State officials say the initiative is expected to improve living conditions and support economic development across Cross River.
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