Real estate experts, Alpha Benc Consult have praised Akwa Ibom State’s government bold move to invest in an 18-story commercial building in Lagos, describing it as a “shrewd business decision”.
The building, strategically located on Aboyade Cole Street, Victoria Island, is expected to yield significant financial returns for the state.
Determined to ensure economic diversification for growth and prosperity, Akwa Ibom State Government has flagged off an 18-storey Ibom Towers, today, in Lagos with a promise that the project will be completed in 24 months.
The groundbreaking ceremony was performed by the Lagos State Governor, Babajide Sanwo- Olu, to the admiration of former Akwa Ibom Governors, Udom Emmanuel and Obong Victor Attah, among eminent Nigerians.
The project is expected to drive substantial revenue and GDP growth for both states, providing much-needed economic diversification amid Nigeria’s current financial challenges.
“This investment is a master class in economic diversification,” said Engr. Stephen Eze, spokesperson for Alpha Benc Consult. “Governor Umo Eno’s visionary leadership and commitment to growth are truly commendable.”
Alph Benc Consult further highlighted the numerous benefits of this investment, including:
Economic diversification for Akwa Ibom State, Substantial revenue generation, Job creation for indigenes, Enhanced regional influence
The consultancy firm lauded Governor Eno’s innovative approach to governance and his dedication to the prosperity of Akwa Ibom people. “This project showcases the governor’s forward-thinking and his desire to leave a lasting legacy,” the spokesperson said.
With this investment, Akwa Ibom State is poised to make a significant impact in Nigeria’s real estate sector, and Alph Benc Consult is eager to see the positive outcomes for the state’s economy
Governor Umo Eno had earlier explained that the project was meant to generate income and create job opportunities for the State.
“Anytime leaders invest in forward-looking projects like this, there are challenges,but a leader must look into the future.”
“With Ibom Towers, both Akwa Ibom and Lagos are demonstrating how unity and vision can drive prosperity, marking a new era of economic innovation amid national economic downturn”.
He further expressed gratitude for the partnership and his ties to Lagos, underscoring that the project represents the power of bipartisanship.
“This is the essence of bipartisanship; it should not be coloured by political affiliations,” he noted.
Governor Eno expressed gratitude to President Bola Ahmed Tinubu who was once the Governor of Lagos State for his significant contributions to the development of Lagos, emphasizing the importance of patience during this period of reforms in Nigeria.
“These changes may be painstaking, but they will bear fruit,” he assured.
Located in the heart of Victoria Island, Ibom Towers will serve as an iconic structure aimed at boosting investments and economic ties, directly benefiting Lagos and Akwa Ibom.
Governor Sanwo-Olu welcomed the development, highlighting Lagos’ longstanding role as Nigeria’s centre for commerce.
He remarked, “I look forward to seeing this relationship deepen, and who knows, maybe I’ll also invest in an oil well in Akwa Ibom,” adding a light-hearted touch that underscored the states’ shared economic aspirations.
The Managing Director of the Akwa Ibom Investment Corporation (AKICORP),Imo-Abasi Jacob, provided a detailed overview of Ibom Towers, describing it as a premium project designed to attract urban professionals.
“Featuring upscale apartments, gyms, pools, and smart building technology, the tower will serve as both a luxury residence and a revenue generator, with income from property leases and tourism expected to enhance GDP growth for both states”, Pastor Jacob said.
In their separate goodwill messages, leaders from both states celebrated the impact of Ibom Towers on revenue and employment.
The Oba of Oniru, Oba Abdulwasiu Lawal, expressed satisfaction in the project, assuring his support and seeing it as a legacy of Lagos-Akwa Ibom cooperation.
Similarly, His Eminence, Ntenyin Solomon Etuk, President General, Akwa Ibom State Traditional Rulers Council, stressed the value of the initiative in uplifting Akwa Ibom’s profile internationally and encouraged the involvement of young engineers from the state to gain hands-on experience.
The Speaker of the Akwa Ibom State House of Assembly, Rt. Hon. Udeme Otong, pledged legislative support, asserting that landmark projects like Ibom Towers elevate Akwa Ibom’s standing nationally.
Former Governor, Obong Victor Attah commended the achievement, viewing it as the realisation of a vision to make Akwa Ibom a key player in real estate and economic growth. “This project represents the fulfillment of long-held aspirations for our state’s prosperity,” he said.
The Secretary to the Akwa Ibom State Government, Prince Enobong Uwah who said the tone for the event, said the State has been blessed with good leaders, adding that Governor Eno is expanding on the legacies of his predecessors.
