Saturday, June 18, 2011

South-South governors create regional economic entity

15 June 2011

The governors of South-South states, comprising Bayelsa, Rivers, Akwa Ibom, Cross River, Edo, and Delta States yesterday signed an agreement for the take-off of regional economic cooperation under the acronym, BRACED.

The agreement was the result of a meeting of the South-South Governor's Council held in Port Harcourt, capital of Rivers State.

In a communiqué at the end of the meeting Monday night, the chairman of the council and governor of Cross River State, Liyel Imoke, said the six states have agreed to establish a regional electric company and a regional oil and gas company to serve the common interest of the people of the region.

He added that steps were being taken to conduct a feasibility study on the projects.

Mr Imoke also said in a bid to fast track the process, the second South-South Economic Summit would be held at Asaba, Delta State, from October 13th to 15th this year, while a strategic meeting of commissioners of economic development, planning, finance, agriculture, commerce and industry from the states would be convened within 60 days.

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