By Obiabin Onukwugha
The Akwa Ibom State Government and Navy Holdings Limited, a subsidiary of the Nigerian Navy, last Thursday, signed a Memorandum of Understanding (MoU), for the establishment of Ibom Fish City Project in the state.
The project when completed, is expected to generate an estimated revenue of N500million and also provide thousands of employment opportunities for people in the state.
Speaking during the signing of the MoU at the Government House, Uyo, the state Governor, Umo Eno, said the memorandum was in furtherance to his administration’s vision of exploring the blue economy.
He underscored the importance of the project, saying it will further strenghten the existing relationship between the the Nigerian Navy and the Akwa Ibom state government.
The governor also stated that the project was an initiative of the former administration of Udom Emmanuel where he served as Commissioner for Lands and Water Resources.
He said: “What we are doing today is to agree that we really want to be in this marriage between the Nigerian Navy and Akwa Ibom State Government. So, by signing a memorandum of understanding, it means we should be able to progress.
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“I have brought in the Managing Director of Akwa Ibom Investment Corporation because that is the investment arm of the government, just as Naval Holdings is the business arm of the Nigerian Navy.
“We are signing the MoU to reiterate that it is a worthy project because apart from providing jobs, this government is really interested in maritime security. And one of the things Rear Admiral Ayo Olugbode promised me was that if this project was there, it would provide security around the area.
“We are interested both for economic and security purposes. These two reasons give me joy because we want to make our waterways very safe for our people to do business.
“I believe this will be a good marriage, we don’t want it to fail and we want to make sure that this is a model for other coastline states to copy.”
Earlier, the Group Managing Director of Navy Holdings Limited, Rear Admiral Hamza Kaoje, thanked the governor for his commitment to the development of the state.
He also commended Eno for setting machinery in motion to facilitate the project through the MoU, adding that the partnership deal will add enormous value to the state.
Giving insight on the project, the Hydrographer of the Nigerian Navy, Rear Admiral Ayo Olugbode, said the project when completed will generate an estimated revenue of N500 million and employment of between 2,000 and 5,000 people, depending on its scale.
The project is expected to be completed in five years time.
