Calabar Carnival projected to generate N25 billion for Cross River State
What happened
The Calabar Carnival, described as Africa’s biggest street party, is projected to generate over N25 billion in socio-economic returns for Cross River State this year. The festival is expected to attract between 700,000 and one million visitors. Last year, the carnival generated approximately N19 billion in socio-economic returns to the state.
From thisdaylive.com
Why it matters
The carnival attracts international diplomats, global media, and corporate sponsors, including banks and major manufacturers. This influx of visitors and private investment provides significant socio-economic returns to Cross River State.
From thisdaylive.com
Who's involved
- Cross River StateThe state benefiting from the carnival's projected economic returns.
- CalabarThe city hosting the carnival and generating tourism revenue.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Cross River StateSpeculative
Cross River State might see increased revenue and private sector investment from the carnival.
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The entities involved
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Nigeria
sovereign state in West Africa
- The Nigerian Senate has approved a bill regarding the creation of state police, while Bola Ahmed Tinubu transmitted the constitutional amendment bill to the Senate.
- A 50-50 joint venture between ANOH Gas Processing Company and NNPC Limited is strengthening collaboration to expand gas supply from the Niger Delta to northern Nigeria.
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Cross River State
state in Nigeria