Akwa Ibom state has made a grand entry into the burgeoning property market in Lagos with the groundbreaking of an 18-storey property in the high-brow Victoria Island.
The ceremony which was attended by dignitaries from both states marks the involvement of the Akwa Ibom State huge investment in the property market.
In his remarks, Governor Umo Eno noted that no nation or subnational relies on one source of income – but must diversify, and expand their portfolios, stressing that the Ibom Towers will help increase the internally generated revenue of the State.
According to him, “in our determined efforts to grow more streams of income and deepen our investment portfolio, we are here to perform the ground -breaking ceremony for the 18-Storey Ibom Towers. The Managing Director and Chief Executive Officer of our Investment Arm- the Akwa Ibom Investment Corporation (AKICORP),Pastor Imoabasi Jacob has done a great job in providing the overview of this property so I will not go further on that.
“Permit me to thank and commend our past leaders for wisely investing in real estate market in Lagos , even when such investments did not appear as bullish as they are today.
“No nation or a subnational relies on one source of income – they must diversify the sources of their income, they must expand their portfolios. The Ibom Towers will help increase our IGR. It will raise our profile and a sense of identity; it will stand as an iconic reminder of the power of creative application of resources to yield the most benefits for the people.
“While running for the office of Governor, I had promised that we will look at alternate ways of investments and increasing our economic profile. This Towers whose ground-breaking ceremony we are performing today, will ensure we achieve that dream and keep working to advance the growth of our State and improve the material wellbeing of our people, That’s what they elected me to do, and that’s what I will continue to do as long as I remain the Governor.
“We will continue to build compassionate homes for the poorest and neediest, we will continue to provide food vouchers to the most vulnerable as a temporary measure to mitigate hunger while still encouraging our people to farm. We will continue to execute audacious projects such as the soon to be opened ARISE Park, which is primed to be a wonder in tourism, leisure and entertainment.
“We will build more roads, work to remain an oasis of peace and security where our children will continue to receive the best education that will make them competitive and ensure we have a healthy and agile population through such programmes as the State Insurance Scheme, free ambulance services and primary healthcare facilities. We will develop our rural areas as a means of stemming rural-to urban migration.
“We came to serve our people and we will continue to do so, and prove that government can indeed be a force for good and not for ill,” he added.
Governor Eno commended President Bola Tinubu for his visionary leadership which transformed Lagos to an investment hub in Africa.
He also appreciated the Lagos State Governor, Babajide Sanwo-Olu for his corroborative disposition which has made the project possible, and assured that the State will comply with all extant rules and regulations guiding such development
Speaking at the ground-breaking ceremony of the 18-storey Ibom Towers, in Victoria Island, Lagos State, Governor Sanwo-Olu noted that Lagos is the cynosure of investment in Nigeria and Africa, adding that Governor Eno has taken the right decision to invest in the Lagos State real estate market, which according to him, will give bountiful return on investment.
He maintained that it was good business sense to invest in areas of comparative advantage, adding that the Lagos State government will equally look at possible areas to invest in the rich resources of Akwa Ibom State.
Describing Governor Eno as a fantastic corporate investor, he assured that the State’s investment in Lagos is very safe and secure, and that his administration will continue to provide security for investments made in the state.
On his part, former Governor of Akwa Ibom State, Obong Victor Attah, described the project as visionary, adding that the future belongs to those who have the audacity to see possibilities before it becomes reality.
Attah, a former President of the Nigeria Institute of Architecture, recalled that during his leadership of the state, effort was made to have similar investment at the property though it turned out unsuccessful. He congratulated Governor Eno for having a supportive House of Assembly to help actualize his development vision for the State.