By Bassey Udo
The Akwa Ibom State government on Wednesday said it was committed to leveraging the benefits and opportunities guaranteed by the ongoing reforms in various sectors of the economy to create wealth and ensure sustainable development for the people.
The state governor, Umo Eno, expressed the commitment in Abuja while delivering a keynote address at the Moneyline with Nancy Investment Forum on the theme “Nigeria’s New Financial Landscape: Reforms, Risks, and the Road to Wealth Creation.”
The governor who was represented by the State Commissioner for Information, Aniekan Umanah, describing the fiscal and financial reforms by the present administration as the pathways to the country’s sustainable wealth creation.
He said the reforms by the Federal Government through the Investment and Securities Act 2025, the Insurance Industry Reform Act 2025, the Nigerian Tax Act, 2025, and the deregulation of the electricity market to allow States get involved in the generation, transmission and distribution of electricity, marks a decisive shift in the national economic trajectory.
While commending the Bola Tinubu administration for the courage to liberalise the power sector, he said the move would not only deepen competition, but would promote efficiency, and expand access to energy across the country.
Groundwork power sector ownership
“In Akwa Ibom, we have already commenced the process of taking ownership of our power sector, laying the groundwork that will enable us to generate, transmit, and distribute electricity within the State.
“It is through such deeper unbundling that subnational governments can truly serve the interests of their people, attract private capital, and accelerate industrialisation,” the governor said.
He said under the ARISE Agenda being implemented as the development compass designed from day one of this administration to transform the State into an investment destination of choice, he identified five key aspiration areas to focus on.
These include Agricultural Revolution, Rural Development, Infrastructure Maintenance and Advancement, Security Management, and Educational, Economic and Industrial Advancement, which together form the pillars driving a single vision , to build Akwa Ibom as a destination of choice for investors, tourists, and residents alike.
The ARISE Agenda
The goal of the Arise Agenda, he said, was to create an economy that welcomes the free movement of goods, services, people, and capital, adding that the state government was building an ecosystem where business was easy, government transparent, and growth inclusive.
“Through deliberate planning, we have strengthened our connectivity to national and international markets — by air, land, and sea, creating gateways through which trade, investment, and tourism can flow,” he said.
Akwa Ibom, the governor pointed out, was the first subnational government in the country to own and operate an airline. Ibom Air, saying the airline which is now rated as the most preferred airline in the country, represents the state’s bold vision to connect Akwa Ibom to markets and opportunities around and outside Nigeria.
Around the Ibom Air, the governor said the state government was developing a full aviation ecosystem, comprising a smart international terminal, a Maintenance, Repair and Overhaul (MRO) facility, and an Aviation Village, positioning the State as a regional aviation hub in Africa.
Besides, he said the State was also expanding its intercity road networks with over 960 kilometres constructed across the 31 Local Government Areas, and deploying 50 compressed natural gas (CNG)-powered city buses to promote clean, affordable, and efficient transportation, while considering the construction of a light rail system to enhance urban mobility.
By sea, he said the State government was equally advancing the Ibom Deep Seaport and Industrial City as key drivers of its evolving Blue Economy framework, saying these initiatives would unlock the state’s maritime potential, create thousands of jobs, and integrate it into global trade routes.
In addition, he said the State government was not only developing an inland maritime infrastructure, but also acquiring modern ferries to open up safe and affordable water transportation corridors along its coastal and riverine communities to support commerce, mobility, and economic diversification through logistics, shipping, and port services.
Designated Economic zones
Beyond these initiatives, he disclosed that six designated Economic Zones have strategically been created to decentralise industry and provide infrastructure, power, incentives, and regulatory support to make doing business in Akwa Ibom seamless and rewarding to investors.
Thes include the Liberty Oil & Gas Free Trade Zone; Ibom Industrial City; Itam Industrial Park; Ikot Ekpene International Market; Ibom Solution Hub Industrial Park, and the Qua Iboe Export Hub.
Incentives to investors
On incentives to attract investment, the governor said the Liberty Oil & Gas Free Trade Zone offers significant benefits, including tax holidays, duty-free import of machinery and equipment, and streamlined regulatory processes, in addition the provision of land lease options under the Akwa Ibom Geographic Information System (AkwaGIS) for a conducive and secure environment, reduced administrative burdens, and strong institutional support by the state government.
Other incentives include the services by the Akwa Ibom Investment Corporation (AKICORP), which serves as a one-stop investment facilitation agency, offering project identification, business advisory services, and regulatory assistance.
Also, he said the State government has also streamlined business registration, reduced bureaucracy, and enhanced ease of doing business, by aligning with national tax reforms and leveraging digital systems for transparency.
Akwa Ibom as safe haven
“Today, Akwa Ibom is a safe haven for major investors in oil and gas, and government will continue to guarantee a conducive investment environment,” he pledged, adding that tourism stands as the future of the state’s economy beyond oil.
“Akwa Ibom is the cleanest and safest State in Nigeria, and we are leveraging this to position the State as the nation’s premier tourism and hospitality destination,” the governor said.
To market the State as a veritable investment destination, the governor said a Destination Management Organisation engaged, while developing landmark tourism assets, including the 5,000-capacity International Convention Centre, the Ibom International Hotel, the ARISE Shopping City, the Ibom Hotel and Golf Resort, and the Raffia City Hotel managed by Four Points by Sheraton.
“We are also driving agricultural development through a network of agro-based enterprises, the Ibom Model Farms, Dakkada Global Oil Palm, Coconut Plantation, and Garri Processing Projects to expand rural incomes, create jobs, and ensure food sufficiency. Our vision is to build a self-reliant economy driven by local production and private sector participation,” he said.
Empowering youth, women
In the area of human capital development, he said the state government was empowering youth and women through the Ibom Leadership and Entrepreneurial Development Agency (Ibom-LED), by providing business training, grants, and mentorship for small and medium enterprises (SMEs).
So far, he said over 10,000 persons have been trained and empowered, while financial literacy was promoted to help the people become active wealth creators.
Subnationals’ role to boost enterprise
Noting that wealth creation should no longer be allowed to be the exclusive responsibility of the Federal Government, Eno said States and other subnational governments should exploit the benefits of the new financial landscape to drive productivity, innovation, and local enterprise.
To achieve this, he stressed the need for a synergy between policy and people, fiscal reform and financial education, the boardroom and the marketplace as well as be mindful of the risks like market volatility, inflationary pressures, and global uncertainties that accompany reform.
He said the task before the government at both national and subnational levels was to transform reforms into results as well as policies into prosperity, citing Akwa Ibom as proof that growth and development were possible when vision meets discipline, and governance serves the people rather than political expediency.
The governor reiterated the commitment of his administration to transparency, accountability, and peace, which he described as the three currencies that attract sustainable investment.
“Akwa Ibom State is a destination whose time has come. It is a model of how subnational governments can complement the bold efforts of our President, Asiwaju Bola Ahmed Tinubu, in building a $1 trillion economy by 2030 under the Renewed Hope Agenda.
“The stage is set for our journey to an investment destination in Nigeria that offers limitless opportunities in an investor-friendly environment. The time to come is now and we welcome you to come, live and invest in Akwa Ibom State,” he said.
In her introductory remarks, the convener of the investment forum, Mrs. Nancy Nnaji, who is also the host of the Moneyline with Nancy on African Independent Television (AIT), commended the State government for its efforts to take advantage of the reforms to create an enabling environment for wealth creation among the people.
She said the event was conceived not only to deepen understanding of the issues underlining the reforms in the economy, but to empower Nigerians with actionable knowledge, inspire collaboration across sectors, and promote responsible investment practices that would secure both individual and national prosperity.
“This forum, therefore, is more than a gathering; it is a strategic conversation about Nigeria’s rewritten financial landscape, one that has been reshaped by fiscal and monetary reforms, new regulatory directions, and evolving market realities.
“It provides an opportunity to understand the implications of these changes, assess the emerging risks, and identify the pathways that lead to inclusive and sustainable wealth creation,” she said.
