(AGENDAWATCHDOG) – The Akwa Ibom State Governor, Emmanuel Udom, announced the impending $1.4 billion agricultural project to be established by foreign investors.
The project, which opens the opportunity for more investments in other key sectors of the economy, indicates that the people of Akwa Ibom State may just be about to witness more foreign investments.
In a report, the new investment attraction to the Southsouth state is said to be linked to key infrastructure and policies that make investments to thrive. This attraction is reflected in some of the industries operating in the state which are products of the public-private partnership (PPP) policy that is driving the administration’s industrial revolution.
The investment, Udom said, cut across two countries and would turn around the agricultural sector that would gladden the hearts of the people of the state.
It is necessary to point out that the uptick in investment in the state is in sync with Governor Udom’s five-point agenda when he assumed office, which had industrialisation as the pivot of his administration’s economic transformation programme, which also constituted the fulcrum of the eight-point Completion Agenda of his second term.
For instance, the governor’s decision to set up a committee on Foreign Direct Investment (FDI) shortly after assuming office underscored the importance he attached to investments from outside and the contributions they could make towards realising his objective of making the state an industrial hub.
PROJECTED IMPACT: The project is expected to increase employment and economic growth, enhance human resource development, increase exports of farm produce, enhance more foreign capital inflows and stimulate economic development.