AKWA IBOM SATE ECONOMIC EMPOWERMENT

AND DEVELOPMENT STRATEGY (AK – SEEDS)

AK – SEEDS can be described as the framework for growth as well as a road map for the development of the State.  It represents three bold things namely:

(i)The medium term economic reform programme which sets the course of the people’s development within a certain time, in this case effectively between 2003 and 2007.

(ii) A strong will on the part of the Government to bring itself into a social contract with the governed.  It expresses what the government hopes to do as well as what it has committed itself to fulfill before that period.  It also embodies the responsibility of the people as well -  the Civil Society, the donor agencies and the entire people that are concerned with development.

(iii)An approach towards building a public and private partnership.  It is not just about the State, but also about groups, individuals and the initiatives of the people that can all come together and change a definite milestone which has been set and agreed.

As an on-going economic reform, it will impact positively on the lives of the citizenry by giving them the opportunity to be economically empowered to generate income and also making them to have a change of mentality.

AK- SEEDS is based on the realistic resource profile of the state.  It has a total outlay of  N134 billion of capital projects to be executed across the State.

The bulk of the resources for the implementation of the development programmes is expected to come from derivation and the statutory allocation.  Other sources include: internally generated revenue, bilateral assistance from World Bank, UNDP, multinational corporation and also facilities from the capital market.

AK – SEEDS is a new economic development strategy which will form a basis for budgeting, medium term framework for development planning and greater involvement of the people in the monitoring and evaluation of development projects of Government.