Since his assumption of office on May 29, 2007
as Governor of Akwa Ibom, Chief Godswill Obot Akpabio, CON has left no one in
doubt that he came with a mission to serve his people and re-position the State
as a model in Nigeria. A little over five years since he was entrusted with
that historic mandate, Chief Akpabio has confounded everyone with his
monumental achievements that have led to the Uncommon Transformation of the
State. With his Free and Compulsory education; Free Medical care for children,
expectant mothers and the elderly; a brand new Governor’s Lodge; six new
General Hospitals; Ibom Tropicana Entertainment Centre, to mention but a few,
the Governor has proved his mettle and given the State a quantum leap.
Already, the foundation for the emerging economy
has been laid with the provision of world-class infrastructure such as 300 new
roads and flyovers which provide a good network across the state; dependable
power supply through the completed phase I Ibom Power Plant that generates 191
megawatts; easy flight access via Ibom International Airport; and other
incentives, necessary for a sustainable industrial economy. The provision of
N20bn (Twenty Billion Naira) in the 2012 budget as well as the recent signing
of a Memorandum of Understanding (MoU) with the Bank of Industries (BOI) for a
N5bn (Five Billion Naira) Industrial Development Fund to be accessed by
investors, is a clear indication that the present administration is ready to
jump-start an industrial economy.
With a rich reservoir of human and natural
resources Akwa Ibom offers a safe haven for investment in the Gulf of Guinea
and sub-Sahara Africa. The abundant natural resources in the State, backed with
liberal government economic policies, make Akwa Ibom State a desirable market
for discerning investors. The numerous rivers, creeks and streams, as well as a
favourable all-year-round season for agricultural activities, make the State a
potential goldmine for agro-allied investors.
While a large number of the farmers in the State
are involved in the cultivation of food crops like cassava, yam, cocoyam maize,
rice, cowpea, melon, plantain, vegetables, banana, pineapples, African peas,
etc., cash crops like oil palm, coconut, rubber, raffia palm, gmelina and
kolanuts are also widely cultivated in different parts of the State.
Oil palm is found in all parts of the state
while Rubber can be found in Itam, Ndon Ebom, Ifiayong obot, Use Ikot Amama and
parts of Uyo. While Rubber trees can be found in Itam, Oku, Ndon Ebom, Ifiayong
Obot, Use Ikot Amana and some parts of Uyo, Cocoa is grown extensively in
Ibiono Ibom, Ini, Itu and Ikono Local Government Areas of the State.
Several tree species are indigenous to Akwa Ibom
State. They are found in all the Local Government Areas and their products
enjoy a very high demand globally. As such, the State Government is involved in
forest preservation and, at present, owns four forest reserves. The State's
reserves are Stubbs Creek Forest Reserves (301.87 sq.) in Esit Eket and Mbo
Local Government Areas; the 5.18sq.km forest reserve in Odu, Itu Local
Government Area, and Obot Ndon forest reserve covers 2.69 sq.km
in Ikono and Uwet Odot in Nsit Atai Local Government Area. The State is equally
blessed with abundant rivers, tributaries, mangroves swamps, creeks and flood
plains, which are natural homes for various species of fishes, crustaceans and
shrimps.
Akwa Ibom State has rich deposits of metallic
and non-metalic minerals, distributed across all the Local Government Areas of
the State. These include gold and silver nitrate used in the production of
jewelry and other ornaments as well as clay, silica sand, lime-stone, gravel,
salt, coal, oil and gas.
The Ibom Industrial City is one of the mega
projects of the Governor Akpabio administration. It is expected to form the
bedrock of the emerging industrial economy. Key components of the Ibom
Industrial City include, Petro-Chemical Industries, Fertilizer plant,
Integrated Deep Seaport and Export Processing Zone (EPZ). Already Government
has obtained approval from the Nigerian Export Processing Zone Authority to
establish EPZ for the proposed export-oriented refinery at Ikot Abasi and Ibom
Science Park in Uyo. Incentives for the EPZ include; unrestricted remittance of
profits and dividends, rent-free land, repatriation of foreign capital on
investment in EPZ, about 100% foreign ownership of enterprises and about 100%
sale of products produced outside the Country. Already, the Ibaka Integrated
Deep Seaport Implementation Committee has been set up by the Federal Government
of Nigeria.
Other areas open for investment include refinery
and gas development projects; Airport-cargo handling and associated services;
independent power plant phase II, water and rail transportation among others.
As part of the efforts of the State Government
to provide an enabling environment for the growth of enterprises, encourage
inflow of investment as well as protect existing ones to stimulate the
expansion of the industrial capacity of the economy, the State has developed a
range of investment incentives to attract investors. For example, there are
industrial estates/layouts in Uyo, Eket, Ikot Abasi and Ikot Ekpene Local
Government Areas with plans to establish new ones. Also, as part of measures to
encourage private business initiatives, the State government guarantees prompt
allocation of land in respect of industrial, commercial, agricultural and
housing projects anywhere in the State
With these investment opportunities and
incentives as well as the provision of critical infrastructure and other
investment windows, it is clear that Akwa Ibom is ready for potential investors
in the emerging industrial economy. Welcome to the emerging global destination,
welcome to Akwa Ibom State!
(Aniekan Umanah is the
Akwa Ibom State Commissioner for Information & Communications).
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