By Straightnews
Akwa Ibom State Governor, Pastor Umo Eno, said the state government decided to invest in real estate to grow the state economy and increase its revenue base.
Governor Eno made the clarification on Wednesday in Lagos at the ground breaking ceremony of the 18-storey Ibom Towers at Victoria Island, Lagos, meant for delivery in the next 24 months.
“With the blue chip real estate market, so today in our determined effort to grow more means of income and deepen our investment portfolio, we are here to perform a ground breaking ceremony of this 18-storey Ibom Towers,” Eno said.
The Governor used the occasion to beg Nigerians to be patient and bear the pain occasioned by the reform programmes embarked upon by President Bola Ahmed Tinubu’s administration, assuring them that the reforms will bear fruits soon, and there would be light at the end of the tunnel.
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He said he had been a follower of Tinubu leadership, when he was governor of Lagos State, noting that the right reform he took in the state grew her economy, making it the best economy performing state in Africa.
“We remain hopeful that, the reforms our president is currently introducing to grow our country, painful as they may appear today will bear fruits soon, as he repositions Nigeria, just as he did with Lagos State as the largest economy in Africa.
“So, I urge people to follow patiently, while we walk this path because I see a great light at the end of this tunnel,” Eno said.
In his remark, Lagos State Governor, Mr. Babajide Sanwo-Olu, noted that the decision of Akwa Ibom State to embark on the ambitious venture in Lagos was a testament to the dynamism of the great city as a commercial hub.
Sanwo-Olu expressed the hope that the effort at putting the Tower in place would “serve as a beacon of the fruitful alliance between Lagos and Akwa Ibom in creating a unique space that encourages business, investment, and vibrant community life.
“This groundbreaking affirms our commitment to welcoming and fostering projects that strengthen economic ties and create new opportunities across our regions.
“As Ibom Towers rises, it will serve as a beacon of the fruitful alliance between Lagos and Akwa Ibom, creating a unique space that encourages business, investment, and vibrant community life.
“Projects like this one are the embodiment of our collective vision for Nigeria’s growth, driven by creativity, collaboration, and a commitment to excellence.” Sanwo-Olu stated.
Also speaking, former Governor Obong Victor Attah said he knew the ground breaking event was due to take place yesterday, recalling that he had wanted to embark on the project when he was the governor of the state, but could because he did not get the support of the relevant stakeholders.
Attah said Governor Eno should consider himself lucky that the State Assembly was cooperating with him to develop the state, even as he further recalled that as then sitting governor, he had wanted to invest the state money in Econet when telecommunications industry started.
According to him, he did not enjoy the support of the legislative arm, maintaining that he was attacked and opposed.
He, therefore, urged the state governor not to give attention to those, who may accuse him that instead of developing his state, he is developing another person’s state, noting that the value of land in Lagos is not the same as in Akwa Ibom, so also value of building.
“Don’t pay attention to those who may blame you for not developing your state, by building such property in your state. The value of land here in Lagos is far above that of Akwa Ibom State. You have a vision. The future belongs to those who have the audacity to see the future before it becomes a reality,” Attah said.
Speaking on the importance of the Ibom Towers, the Managing Director of the State Investment Corporation, Pastor Imoabasi Jacob, said the Ibom Towers is a project different from real estate.
According to him, it is an investment meant to increase the IGR of Akwa Ibom State, and create more value to the future, maintaining that the land that was to accommodate the building was acquired in the 90’s and left underdeveloped.
Jacob said the building was meant to deliver holistic being for the occupants, because a lot of facilities would be introduced into the building, adding that the occupants can live in the apartment and do their business there, without going out of the building.
Government’s reaction
Against criticisms by the public, Governor Eno said the issue has been “politicised and several unsanitised and sensational angles drawn.”
The governor’s reaction is contained in a statement on Friday , July 20 by Ekerete Udoh, the spokesperson to the governor.
Mr Udoh said that the governor first disclosed the plans to embark on the building in his first-anniversary speech. Besides the proposed Ibom Towers in Lagos, he also said the governor has also told the people of plans to build a three-star hotel in Abuja, the nation’s capital.
“We will undertake the construction of Ibom Towers, an 18-storey commercial property on Aboyade Cole, Victoria Island, Lagos. This will serve as an income-earner for the state, in the nation’s commercial capital. We will also build a medium-density housing estate in Ewet Housing and sell the homes to high-income earners. A three-star hotel will also be built in Abuja where our current Liaison office is located,” Udoh quoted the governor as saying in his first-anniversary speech.
The project, according to him, is an audacious plan by the state government “to tap into the bullish Lagos and Abuja real estate markets, by converting hitherto state-owned moribund properties into commercial investments, to earn income.
“The 18-storey proposed Ibom Towers will consist of thirty-one, one and two-bedroom flats, and business suites that would be sold to high-income earners and the proceeds sent to the state’s treasury,” Mr Udoh said.
Two aircraft expected to boost IbomAir fleet
Meanwhile, the Akwa Ibom State Government is expecting the arrival of two new CRJ aeroplanes to add to the fleet of the Ibom Air.
The Managing Director and Chief Executive Officer (MD/ CEO) of the Akwa Ibom Investment Corporation AKICORP Mr Imo-Abasi Jacob gave this hint today during the ‘happy hour’ celebration of the Corporation.
The excited Mr Jacob said that the new additions would be the fourth that the airline would have added so far in 2024.
Discounting the rumours surrounding the ownership of the airline, the MD affirmed that the Ibom Airlines was solely owned by Akwa Ibom State Government.
