The Akwa Ibom State Government has initiated the construction of an 18-storey Ibom Towers at Plot 868A, Bishop Aboyade Cole, Victoria Island, Lagos, as part of its commitment to economic diversification.
The project, expected to be completed within 24 months, aims to boost revenue, create jobs for both Akwa Ibom and Lagos, and support economic growth by attracting investment and strengthening ties from its strategic location in central Victoria Island.
The groundbreaking ceremony, led by Lagos State Governor Babajide Sanwo-Olu on Wednesday, October 30, attracted high-profile figures, including former Akwa Ibom Governors Udom Emmanuel and Obong Victor Attah, along with other dignitaries.
The announcement was contained in a statement published on the official website of the Akwa Ibom State Government on Thursday.
“As measures towards economic diversification, 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,” the statement read in part.
The Akwa Ibom State Governor, Umo Eno, emphasized at the event that Ibom Towers is a forward-looking investment designed to generate income and create jobs.
He highlighted the project as a testament to the unity and shared vision of Akwa Ibom and Lagos, driving economic innovation amid challenging times.
More insight
The statement provided further insight from Imo-Abasi Jacob, Managing Director of the Akwa Ibom Investment Corporation (AKICORP), who gave a detailed overview of Ibom Towers, describing it as a premium development aimed at attracting urban professionals.
- Jacob highlighted that the tower, featuring upscale apartments, gyms, pools, and smart building technology, will function as both a luxury residence and a revenue generator. Income from property leases and tourism is expected to drive economic growth for both states.
- “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,” Jacob said.
- The statement highlighted that Ibom Towers has received strong endorsements from key figures for its potential to generate revenue and jobs.
- Oba Abdulwasiu Lawal, the Oba of Oniru, and Ntenyin Solomon Etuk, President General of the Akwa Ibom State Traditional Rulers Council, praised the project as a significant step in Lagos-Akwa Ibom cooperation and economic growth.
Former Governor Obong Victor Attah noted it as the fulfillment of Akwa Ibom’s long-term development vision.
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