The Nigerian Navy’s Navy Holdings Limited and the Akwa Ibom State Government have inked a Memorandum of Understanding regarding the development of the Ibom Fish City Project.
State Governor Umo Eno stated that the Memorandum Advances His Administration’s Vision of Investigating the Blue Economy during his speech while signing it on Thursday at the Government House, Uyo.
It would strengthen the two parties’ already strong connection, he continued.
The governor, who noted that talks on the project had begun during the previous administration when he served as Commissioner for Lands and Water Resources, commended the company’s management for their unwavering commitment.
“Today, we are reaffirming our desire to be a part of this union between the Nigerian Navy and the government of Akwa Ibom State,” he declared. In other words, by signing a memorandum of understanding, we should be able to move on.
“As the business arm of the Nigerian Navy is Naval Holdings, so too is Akwa Ibom Investment Corporation the investment arm of the government, which is why I have invited its managing director.
We are signing the Memorandum of Understanding to reaffirm that, in addition to creating jobs, this initiative is worthwhile because the government is genuinely engaged in maritime security. Additionally, Rear Admiral Ayo Olugbode assured me that this project will give security surrounding the area.
“We are interested for security and economic reasons alike. I’m happy for these two reasons because we want to make our rivers really secure so that our people may conduct business.
“We want to make sure that this is a model that other coastline states can copy, and we think this will be a good marriage.”
Earlier, Rear Admiral Hamza Kaoje, the General Manager of the company, praised the governor for his dedication to the state’s growth and the mechanisms he put in place to make the project possible through the Memorandum of Understanding. He also added that the collaboration agreement will provide significant benefits to the state.
Speaking on the project, Nigerian Navy Hydrographer Rear Admiral Ayo Olugbode predicted that, depending on its size, it will employ 2,000–5,000 people and, when completion, bring in an estimated N500 million in revenue over the course of five years.
