Obudu Mountain Resort—once Nigeria’s most iconic high-altitude getaway—is now at the centre of an ambitious revival plan requiring more than ₦200 billion in fresh investment to restore its global competitiveness and reposition Cross River State as West Africa’s premium eco-tourism corridor.

According to Sunday Michael, Special Adviser to Governor Bassey Otu on Obudu Mountain Resort, the state is pursuing a transformative redevelopment blueprint that includes a new airstrip, a dedicated 3WM power plant, fully re-engineered cable car system, and multiple hospitality upgrades designed to match world-standard alpine resorts.

Crucially, Michael confirmed that several international companies—from Egypt, India and other global tourism powerhouses—have already expressed interest in co-developing core infrastructure at the resort, signalling revived investor confidence in Nigeria’s most recognisable mountain tourism landmark.

“The interest we are seeing is not surprising. Obudu’s potential remains massive, and we are receiving global-level proposals that match the scale of the transformation we envision,” Michael said.

He added that the rehabilitation plan will also include new premium housing units, though those costs are not captured in the initial ₦200bn estimate.

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A New Governance and Investment Model: Resort to Be Listed on Global Stock Exchanges

One of the most consequential components of the state’s strategy is its plan to list the resort on three major world stock exchanges, positioning Obudu as an internationally tradable tourism asset and limiting future political interference.

Michael explained that Governor Otu is determined to avoid past cycles where successive administrations allowed the resort to deteriorate due to inconsistent maintenance and weak operational oversight.

“Listing the resort will ensure long-term sustainability. The private sector will run the asset efficiently while the government steps back,” he noted.

This move aligns with global best practices for large-scale eco-tourism investments, where capital markets and private operators ensure governance stability, asset longevity, and transparent revenue optimisation.

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Federal Backing and UNIDO Partnership Accelerate Revival

The Federal Government has already released ₦5 billion to support urgent remedial works at the decaying facility—funds currently being deployed to stabilise infrastructure ahead of new investments.

Additionally, talks with the United Nations Industrial Development Organisation (UNIDO) have been concluded, securing a partnership to build the dedicated power plant that will guarantee uninterrupted electricity—one of the biggest past failures of the resort.

This power solution is expected to become the backbone of the resort’s re-industrialisation, powering accommodation clusters, cable cars, mountain trails, the ranch, and hospitality complexes.

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The CIBA Collapse: Lessons From a Failed Concession

The state’s renewed push comes after the revocation of the 2017 PPP concession with CIBA Construction Company—an agreement originally crafted to rebuild and operate the resort under the Ben Ayade administration.

According to the state government, CIBA failed to meet its development obligations, especially the renovation of hotel assets and critical infrastructure. Worse still, the facility suffered vandalisation and unprecedented decay, with estimated damages reaching ₦6.8 billion.

Governor Otu terminated the concession in March 2025, citing it as a key impediment to the resort’s revival.

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BRANDECONOMY Insight: Can Obudu Rise Again?

Obudu Mountain Resort remains one of the continent’s most strategically located tourism assets—a rare blend of altitude, climate, natural trails, panoramic views, cattle ranching and high-value hospitality potential.

However, its collapse reflects deeper issues:

• inconsistent policy continuity
  
• weak concession oversight
  
• infrastructure fragility
  
• lack of power reliability
  
• limited tourism marketing
  
• insufficient private-sector depth in operations
  

The new ₦200bn blueprint and global stock market listing strategy could represent the strongest governance framework yet—but execution discipline will determine whether Obudu becomes a world-class eco-tourism hub or yet another missed opportunity.

If successful, the resort could:

• generate thousands of direct and indirect jobs,
  
• attract foreign tourists and premium domestic travellers,
  
• unlock Cross River’s mountain-tourism economy,
  
• integrate with the state’s cultural and culinary tourism, and
  
• position Nigeria on the global eco-tourism map.
  

The next two years will be decisive.

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