Investors Table 500million Euros For Governor Ayade’s Signature Projects
31 days after Senator Ben Ayade became governor, in a courtesy call to the governor’s office in Calabar on June 30, 2015, Mr. Michael Le Havre, CEO of Broad Spectrum Industrial Services Limited, an Isreali firm which the governor claimed had over 30 years experience in project financing, energy/power, civil engineering/agriculture presented to the governor, a document which they say grants their firm mandate to fund Ayade’s signature projects, which include a state owned Seaport, a 240km superhighway from Calabar to Obudu and cement/mining corporation, to the tune of 500 Million Euro.
According to Mr. Le Havre, “Your (Cross River State) part of the financial involvement will be very minimal.” He asked the state government to issue a bank guarantee to her bank so that work can begin in earnest while legal agreements were been discussed by the legal teams. He further disclosed that 500million Euros has already been voted in favor of the projects from their account with Deutsche Bank which he is signatory to.
Governor Ayade in his response maintained that “This is not a debt, this is not a loan but project financing and the project has the capacity to pay back by itself. The state has meticulously studied the projects and concluded they will add value to the lives of Cross Riverians as the seaport and evacuation corridor will be serving not just Nigerians but landlocked countries like Niger and Chad with deep dredging to be carried out to accommodate mother vessels.”
Yesterday was June 30, 2021. Exactly six years and one day today, since Mr. Michael Le Havre laid down his 50 million Euro and asked our governor to do him a bank guarantee. What is not clear is, was the bank guarantee issued? Were we not swindled? Who is Michael Le Havre? Who is actually Broad Spectrum? Are they even an Israeli company? Can an Israeli company that has been in business for close to 40years, lack so much presence online and on all major search engines?
Yet, in the 2021 budget speech before the House of Assembly, the Governor said: “We have decided to shift focus from infrastructure, from big projects and refocus on the people. So, this is the people’s budget, a budget in which for the first time, we are shifting from infrastructure and major projects that can create opportunities to focus on the very essence of existence, as well as reduce hunger and poverty.”
Clearly he has abandoned the projects. His own signature projects. Not his predecessor’s.
So these tottering and faltering steps didn’t start today, the grandiloquent posturing and pandering to bogus projects started early in his days until he has exhausted his benefit of doubt, with only 697 days to go.
Continuous voter registration commenced yesterday. Lets increase Cross River State voting strength from 1,527,289 to at least 2,000,000. Go register now!
Citizen Agba Jalingo.