Lagos State Governor Babajide Sanwo-Olu has taken a bold step towards enhancing economic ties with Akwa Ibom State.
On Wednesday, he performed the groundbreaking ceremony for the Ibom Towers, an ambitious 18-story multipurpose building in Victoria Island, Lagos.
Governor Sanwo-Olu emphasized that this project represents more than just physical construction; it symbolizes inter-state collaboration and shared prosperity.
He praised Akwa Ibom State Governor Umo Eno for choosing Lagos as the site for this investment.
Sanwo-Olu remarked, “The decision by Akwa Ibom State to embark on this ambitious venture here in Lagos is a testament to the dynamism of our great city as a commercial hub.”
He noted that the project will strengthen the relationship between the two states and boost their revenues.
The Ibom Towers, located in Lagos’s commercial heart, is expected to serve as a significant revenue source for Akwa Ibom State.
Once completed, the building is anticipated to generate substantial income for the state, enhancing its financial standing.
Governor Sanwo-Olu expressed confidence in the project’s potential, saying it would create new opportunities across both regions.
He stated, “As Ibom Towers rises, it will serve as a beacon of the fruitful alliance between Lagos and Akwa Ibom.”
The project is expected to be completed within the next 24 months, bringing with it a promise of economic growth and development.
In his address, Governor Umo Eno explained the rationale behind Akwa Ibom’s investment in Lagos.
He stated, “In our determined effort to grow more means of income and deepen our investment portfolio, we are here to perform a groundbreaking ceremony of this 18-story Ibom Towers.”
This investment is part of Akwa Ibom’s strategy to diversify its revenue sources and strengthen its economy.
Governor Eno acknowledged the influence of President Bola Tinubu during his time as Governor of Lagos State.
He credited Tinubu’s reforms for transforming Lagos into the best-performing state in Africa.
The support from leaders like Tinubu has inspired Eno to pursue similar paths for Akwa Ibom’s development.
Former Akwa Ibom State Governor Obong Victor Attah also spoke at the ceremony.
He shared his desire to initiate such a project during his tenure but faced challenges in securing the necessary support from stakeholders.
Attah urged Governor Eno to remain steadfast in his vision.
He advised against paying attention to critics who might claim that developing property in Lagos detracts from Akwa Ibom’s growth.
Attah stated, “Don’t pay attention to those who may blame you for not developing your state by building such property in your state.”
He explained that the value of land and property in Lagos differs significantly from that in Akwa Ibom.
Attah further emphasized, “The future belongs to those who have the audacity to see the future before it becomes a reality.”
Pastor Imoabasi Jacob, the Managing Director of the Akwa Ibom State Investment Corporation, also spoke about the importance of the Ibom Towers.
He highlighted that the tower is designed to boost the state’s Internal Generated Revenue (IGR).
Jacob remarked, “This investment is meant to increase the IGR of Akwa Ibom State and create more value for the future.”