The Akwa Ibom State government has taken a significant step in realizing its vision to explore the blue economy by signing a memorandum of understanding (MOU) with Navy Holdings Ltd, a subsidiary of the Nigerian Navy, for the Ibom Fish City Project.
During the ceremony held at the Government House in Uyo, Governor Pastor Umo Eno expressed the importance of the MOU in strengthening the relationship between the two parties and confirming their readiness to collaborate on the project.
Governor Umo Eno recalled the project’s discussions, which had begun during the previous administration when he served as the Commissioner for Lands and Water Resources. He acknowledged the steadfastness of the management of Naval Holdings Ltd.
The governor emphasized that the MOU signifies a commitment to a worthwhile partnership that not only provides employment opportunities but also enhances maritime security, aligning with the state’s economic and security goals.
The project, known as the Ibom Fish City, aligns with Akwa Ibom State’s ARISE Agenda, which seeks to explore the blue economy. The project aims to provide both economic benefits and enhance maritime security. The Governor expressed his desire for the project to serve as a model for other coastal states to emulate.
The Group Managing Director (GMD) of Navy Holdings Ltd, Rear Admiral Hamza Kaoje, commended the governor for his dedication to the state’s development and expressed confidence that the partnership deal would significantly benefit Akwa Ibom State.
Rear Admiral Ayo Olugbode, Hydrographer of the Nigerian Navy, shared details about the project, stating that it is part of the bigger vision of the African Maritime Strategy aimed at addressing the root causes of maritime challenges in the West African coastline.
Upon completion, the Ibom Fish City Project is expected to generate an estimated revenue of N500 million and provide employment opportunities for 2,000 to 5,000 people, depending on the scale. The project will enhance the production of over one million tonnes of fish, with a ready market for the produce.
Akwa Ibom State was chosen as the preferred location due to its abundant riverine and coastal areas, water bodies, and fisheries, all of which will significantly contribute to the state’s economy.
The Deputy Governor, Secretary to the State Government, Attorney General, Commissioners, and other officials attended the event.