By Frank Ulom
CALABAR (CONVERSEER) – Cross River State Government has acquired Kada Cinema and all its assets for N220 million in order to boost the state’s tourism sector.
The approval for the acquisition was given by Governor Bassey Otu during the 8th State Executive Council (SEC) meeting in July.
Converseer reports that Kada Cinema was commissioned by Governor Otu on 7th November 2023, at Marina Resort, the former premises of Film House Cinema.
The cinema is an investment of Lucky Igbenidion, the former governor of Edo State.
Kada Cinema premises house Kada Healthcare and Pharmacy as well as the Zozo Bistro.
The Council, which was presided over by Deputy Governor Peter Odey, also approved the sum of N2.5 billion for strategic restructuring and optimisation of the Cross River State Micro Finance Bank.
The Council also approved the release and disbursement of N445 million as cash empowerment for 200 trained farmers under the Ministry of Wealth Creation and Employment.
N1 billion was also released as counterpart fund for the implementation of the Nigeria Erosion and Watershed Management Project of the European Investment Bank (NEWMAP-EIB) in Cross River State.
Approval was granted to the Ministry of Wealth Creation and Employment to embark on the Amnesty Training Programme for reformed Youths/Militants on the Integrated and Innovative Agricultural Value Chain, which is a Collaboration between the Cross River State Government and CSS Global Integrated Farms in Nasarawa State.
