Uyo – The government of Akwa Ibom has signed initial Memorandum of Understanding with over 20 foreign investors to invest in the state, Dr Emmanuel Onwioduokit, the Commissioner for Economic Development, has said.
The commissioner made the disclosure on Monday in Uyo when some investors from Nasek Investment Limited, South Africa visited him.
He said that the state was a fertile ground for investment with a strong economy bigger than other economies in Africa.
He listed the economic potential of the state to include the planned deep seaport, mega shopping mall and maritime boundary with the Gulf of Guinea and the Atlantic Ocean.
He added that the state also share land boundary with five states in Nigeria.
Onwioduokit said that the policy thrust of the administration for foreign investment would favour would be investors since the bottlenecks encountered in the past had been removed.
He said that the government was willing to assist and partner investors to succeed in the state.
The commissioner said that although Akwa Ibom produce over 58 per cent of the nation’s crude oil, the government was ready to diversify into other areas to break its independence on the sale of oil.
Earlier, the manager of Nasek Investment Limited, Mr Kofi Sekyere, said that he and members of his delegation were on a fact finding mission to the state to look for the best area to invest in. (NAN)