As Nigeria prepares for an energy transition away from fossil fuels, Civil Society Organizations (CSOs) have urged the Akwa Ibom State government to strengthen its economic resilience by investing in agriculture and tourism.
The call was made during a policy dialogue on fiscal resilience in Akwa Ibom, hosted by BudgIT and attended by BudgIT, the Natural Resource Governance Institute (NRGI), and Policy Alert.
Tengi George-Ikoli, a senior officer at NRGI, emphasized the need for oil-producing states, including Akwa Ibom, to broaden their revenue sources to reduce dependency on federal allocations. Highlighting Akwa Ibom’s current reliance on federal allocation for 86% of its budget, she warned that without diversification, the state may struggle to cover expenses if oil revenues decline.
George-Ikoli urged the government to capitalize on the state’s agricultural potential and promote tourism by showcasing its unique coastal assets, noting that Akwa Ibom has the longest shoreline in Africa. She also recommended implementing a technology-driven revenue collection system to minimize leakages and granting the Akwa Ibom State Internal Revenue Service (AKIRS) autonomy to combat corruption.
“Akwa Ibom should shift focus from oil to sectors like agriculture and tourism, with well-packaged tourist destinations to attract global visitors,” she advised.
Enebi Opaluwa, Research and Policy Analyst at BudgIT, also voiced support for these measures, urging the government to incorporate diversification into its budget restructuring. He cited underutilized projects, such as the Godswill Akpabio International Stadium, as opportunities for income-generating initiatives. Additionally, he suggested the government explore renewable energy and capitalize on Akwa Ibom’s coastline and cultural assets to boost the local economy.
The CSOs expressed optimism that Akwa Ibom’s government would consider these recommendations to build a fiscally resilient economy aligned with Nigeria’s sustainable development goals.
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