Niger Delta
A’Ibom Unveils Industrial Park For Manufacturing
The Akwa-Ibom State Government has announced the completion of its industrial park which is well equipped with modern amenities to fast-track entrepreneurship that would create hundreds of jobs in the state.
Located on a 250-hectare facility with a dedicated customs checkpoint and a logistics hub, it has reduced the cost of moving goods to port by up to 30 percent.
The State Governor, Umo Eno, made this known while declaring open the 18th Annual General Meeting of the Cross River/Akwa Ibom States branch of the Manufacturers Association of Nigeria (MAN) in Uyo, the state capital.
He said in the state’s portal, which he described as a “one-stop-shop”, the state government has streamlined company registration, tax incentives and permits, adding that since its launch, the average time to obtain a business licence has fallen from 45 days to just 7 days.
“In partnership with the Nigerian Institute of Industrial Engineers and local universities, we have introduced a dual training programme that places 2000 youths annually in apprenticeships within manufacturing firms, ensuring a pipeline of skilled labour tailored to industry need”, he said.
The Governor, who was represented by the Commissioner for Trade and Investment, Iniobong Ekong, said the state’s industrial policy 2024-2029 offers a 5-year tax holiday for new manufacturing enterprises, a 50% reduction in electricity tariffs for energy-intensive plants, and a matching grant scheme for research and development projects that has achieved a 15% increase in productivity.
He urged MAN to “partner with the state government by investing in the industrial park, tap into our incentives and bring your innovation to our shores.
“Together we can create a robust ecosystem where raw materials are transformed into value-added products, jobs are generated and our economy diversifies beyond oil.
“To the Federal Government, we seek continued support in the form of fiscal measures that encourage local production as well as the swift implementation of the national industrial policy which aligns closely with our state initiatives.”
In his welcome address, the Branch Chairman of the association, Inalegwu Adoga, lauded the governors of the two states for their commitment to improving infrastructure, stabilizing the business environment, enhancing security, and supporting local enterprises which, he said, has gone unnoticed.
“The manufacturing community deeply appreciates the platforms you have created to make both states more attractive for investment and industrial growth”, he said.
In a goodwill message, the Zonal Coordinator of Nigeria Agribusiness and Agro-industry Development Initiative (NAADI), Howard Usen, expressed readiness to ensure a robust agribusiness and agro-industrial development across the country, particularly in the resource-rich South-South region.
“We recognize that the future of Nigeria’s economy is intrinsically linked to a strong manufacturing sector, especially one that leverages our abundant agricultural resources”, Usen said.