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    MarketForces Africa » Economy » FG to Support Akwa Ibom Seaport, Palm Oil Projects- Eno

    FG to Support Akwa Ibom Seaport, Palm Oil Projects- Eno

    Julius AlagbeBy Julius AlagbeJanuary 11, 2024 Economy No Comments2 Mins Read
    FG to Support Akwa Ibom Seaport, Palm Oil Projects- Eno
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    FG to Support Akwa Ibom Seaport, Palm Oil Projects- Eno

    Gov. Umo Eno of Akwa Ibom, says the Federal Government has pledged to support its Ibom deep seaport and the palm oil projects.

    At a briefing after a meeting with President Bola Tinubu at the State House on Wednesday in Abuja, he said this would improve the economic sector of the state.

    “We’ve talked and requested the President to support us with our Ibom deep seaport, and agricultural programme on the oil palm. Akwa Ibom is an oil palm zone. And we have started the process of revamping the moribund industry that has laid there for 28 years.”

    He said the President acceded to the request as well as made important inputs on the ways to make the project a viable and job creating venture for Nigerians.

    Eno said the state needed the support of the Federal Government in the development of the various sectors of its economy.

    He said the economic impact of the Ibom deep seaport would be a game changer for  the state and the Niger Delta region, adding that it would complement the Lagos ports.

    “We need the support of the Federal Government to be able to have a full value chain and then bring people to work and be able to help Nigeria,” he said.  Naira Lost 11% as Banks Issue New Update on FX Spending

    The governor added that with support from the Federal Government, the state would graduate to exporting palm oil in the long run.

    “We can even get to exporting palm oil, because right now, we’re still importing a lot of it. So that’s why I came and it was a good visit.

    “We need to partner with the Federal Government of course, to get work going in the state. Akwa Ibom is part of Nigeria.

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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