Cross River State Government on Friday signed a Memorandum of Understanding (MoU) that introduces a trade fair to the annual Calabar Carnival.
The aim of the MoU, according to the government, is to position Calabar as a major trade hub and revive the Tinapa project through the introduction of a trade fair that is expected to increase the internally generated revenue (IGR) of the State up to N5 billion.
The State Commissioner of Finance, Mr. Asuquo Ekpeyong, who signed the MoU on behalf of the State Government with the management of Tinapa Business Resort and Cliqit, an e-commerce business management and development platform, said: “Where Tinapa is today is not the idea why Tinapa was conceived.”
According to him, “We have gone to the blueprints, we have identified those issues that prevented Tinapa from going where it should be and we are trying to tackle those issues with a fully detailed plan.”
While speaking to journalists shortly after the historic MOU, Ekpeyong said: “I have signed a Memorandum of Understanding (MoU) in Tinapa, Calabar in Cross-River State, to introduce a trade fair to the annual Calabar Carnival and Tinapa through a Special Purpose Vehicle (SPV); the Calabar International Trade Fair (CITF).”