The government guarantees prompt allocation of plots in respect of industrial, commercial, agricultural and residential land acquired anywhere in the State. Certificate(s) of Occupancy for such plot(s) will be approved within one month

Industrial Estates and Layout

The government is establishing and or have established Industrial Estates Lavouts in Uyo, Eket: Ikot Abasi and Ikot Ekpene Local Government Areas. Significant Infrastructure, like water, access roads, electricity, telephone, etc to reduce cost of doing business, is being developed in these estates.

Export Processing Zone (Oil/Gas)

In its effort to provide investors in the State, with the most competitive and generous investment environment the government has obtained approval from the Nigerian Export Processing Zone Authority (NEPZA). for the establishment of an Export Processing Zone status for the proposed Export-Oriented Refinery at Ikot Abasi. The incentives for this include:

• three (3) years tax holiday
• repatriation of foreign capital on investment in EIY at any time with accompanying capital appreciation.
• Unrestricted remittance of profits and dividends earned bv foreign investor in the EPZ.
• No Import or Export Licence required.
• Rent free land during construction of factory premises.
• Up to 100% ownership of enterprises in the Zone
• Up to 100% sale of products produced outside the country.
• No quotas on products from Nigeria exported to HLC and USA
• EPZ good entitled to preferential tariff in the EEC.

It is hoped that with time a full fledged export free zone, particularly for oil and gas related activities, shall be established to further engender industrialisation of the State

[Prev] SPECIFIC INVESTMENT INCENTIVES [2]

  The Next Mile

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.   .....Click Here for more