FOREWORD

Come, let us build together

By His Excellency, Obong Victor Attah

I will like to extend to you the hand of friendship and partnership of the Government and people of Akwa Ibom State in our quest to develop our young state and create lasting prosperity for our people. Since the inauguration of my administration on May 29, 1999, Akwa Ibom State has focused its collective energies on improving infrastructure, building capacity and creating the right environment for your business to flourish.

I believe that very few of Nigeria’s 36 states can provide the strategic advantages and commercial opportunities which you require for soar – away success within the Nigerian environment like Akwa Ibom. Our state is blessed with enormous wealth. Our land is arable and our weather clement to support year –round agriculture. Our soil is rich with numerous mineral wealth. You will find across the state, very large deposits of gold, limestone, black and white clay, salt, coal, silver nitrate and glass sand. They will support a variety of processing facilities.

We are also rich in oil and natural gas. Akwa Ibom accounts for more than 28 percent of Nigeria’s total crude oil output. Much of the crude is located offshore which has proven reserves of crude oil and condensate and is reputed for spectacular discoveries. We have enormous reserve of gas on – shore. Exxon Mobil, Shell, Chevron and Elf have been actively exploiting these resources for years.

Our territorial water is home to a diversity of aquatic life that is ideal for deep water fishing. Our coastline measures more than 129 km. Much of this is sandy beach. This should combine with our rich cultural heritage to provide a strong base for an extensive tourism industry.

We run a democratic government with respect for the rule of law and due process. We are open and accountable to enhance public faith and support for our actions. We are updating our infrastructure base to support increased industrial activities. Our telecommunications system is being modernised to provide international standard services and bring us into the centre court of the global community. We are working on an ambitious power project that will utilise our gas resources to generate clean, uninterrupted electricity. We are re-engineering our processes so that our public service can run with a private sector mentality, delivering unparalleled values within the Nigerian environment. Our state is served with a network of roads. There are two international airports and seaports within 150 km of our capital, Uyo.

The more than 2.5 million people of Akwa Ibom State represent some of Nigeria’s dependable manpower pool. We are close and compact; multi – ethnic yet united, to promote strength and brotherhood through shared values and vision. Our people are warm and accommodating. And very industrious. Our state is home to more than 5,000 expatriates who have come to regard it as home.

We are a leading member of Nigeria’s South South, Nigeria’s strongest economic zone. We fall within three export free zones: the export processing zone at Ikot Abasi, the Calabar export processing zone and oil and gas free zone in Port Harcourt. These should offer you very great incentives.

We are a young state determined to bring real development to our people. This will mean constantly updating our infrastructure, giving skills to our people and re-orientating them on the imperatives of the new economy. Over the next five years, we plan to invest more than N10 billion in providing essential services like road, electricity and water supply. That should further strengthen the operating environment for greater investor friendliness.

The Nigeria federal government has offered a number of incentives including tax holidays, removal of restriction on repatriation of capital, income exemption, enhanced capital allowance and the creating an investor – friendly environment. These incentives covers business and investors in Akwa Ibom State. In addition, we will guarantee all investors free land and title. We will also offer such concessions that will enrich their operation through overall reduction in intial start – up capital.

As part of our economic policy, the government is divesting from direct participation in the industrial sector. So you will find a turf that is level. Now, our energies are focused on creating and sustaining an enabling environment that will guarantee the success of your enterprise. I invite you to take advantage of these and choose Akwa Ibom State as the ideal location for starting, expanding and relocating your business.

You can never be wrong with Akwa Ibom. Never.

 

  The Next Mile
By Arc. (Obong) Victor Attah, Executive Governor, Akwa Ibom State.

During our first term, May 1999 - May 2003, we focused our energies on laying the proper foundation for sustainable growth and development for our state.  We introduced fundamental economic reforms and embarked on a number of strategic projects with far-reaching implications on the long-term economic well being of our people.  One such project is the Independent Power Plant, IPP, designed to generate 685 megawatts of power from our abundant gas resources. The project is advancing at great speed and we expect that on completion, it will have significant impact on the national power delivery capability.  The Ibom Power project is a precursor to the refining and petrochemical project, which is billed to commence shortly.  Both projects have far reaching implications for our economic transformation. We are building on the gains of these initial efforts. My Administration remains committed to improving infrastructure, building capacity and creating investor-friendly conditions that support efficiency, competition and transparency.  Our telecommunications system has been updated and now provides international standard services.  We are now part of the GSM network.  Our investment in roads development has opened up the state and with it, greater access to new markets in the hinterland.  We continue to re-engineer our processes so that our public sector can run with a private sector mentality, delivering unparalleled values to customers. We have inaugurated a Strategic Economic Empowerment Fund, SEEF, to finance core private initiatives with long-term economic value for our state and people.  Akwa Ibom is rich in resources.  Beside crude petroleum, a number of other mineral resources such as limestone, clay, coal, gold, salt and glass sand abound in commercial quantity here.  Our land is arable and supports year-round agriculture. Indeed, the agricultural-fisheries, livestock, forestry, crop and food-potentials of the state remain largely untapped. We will provide incentives and strategic partnership for investors in the agricultural sub-sector and allied areas. Come, let us work together as partners to exploit the rich natural endowments of the state.  Our people are warm, friendly and industrious. They represent some of the best pool of skilled manpower in the country.  Our programmes have helped to give skill and re-orientate them on the imperatives of the new economy.  I am inviting you to take advantage of these opportunities and choose Akwa Ibom State as an ideal location for starting, expanding or relocating your business. I look forward to welcoming you to Akwa Ibom State.