Akwa Ibom State Government has signed a Memorandum of Understanding with Navy Holdings Limited, a subsidiary of the Nigerian Navy, for the establishment of the Ibom Fish City Project.
During the signing ceremony held at the Government House in Uyo on Thursday, Governor Umo Eno, who formerly served as Commissioner for Lands and Water Resources, said the memorandum was in furtherance to his administration’s vision of exploring the blue economy.
He thanked the firm’s management for their unwavering commitment to the project.
He state further that it would further solidify the existing relationship between the two parties.
Eno said, “What we are doing today is to agree that we really want to be in this marriage between the Nigerian Navy and Akwa Ibom State Government. So, by signing a memorandum of understanding, it means we should be able to progress.
“I have brought in the Managing Director of Akwa Ibom Investment Corporation because that is the investment arm of the government, just as Naval Holdings is the business arm of the Nigerian Navy.
“We are signing the MoU to reiterate that it is a worthy project because apart from providing jobs, this government is really interested in maritime security. And one of the things Rear Admiral Ayo Olugbode promised me was that if this project was there, it would provide security around the area.
“We are interested both for economic and security purposes. These two reasons give me joy because we want to make our waterways very safe for our people to do business.
“I believe this will be a good marriage, we don’t want it to fail and we want to make sure that this is a model for other coastline states to copy.”
The firm’s GMD, Rear Admiral Hamza Kaoje, had earlier expressed gratitude to the governor for his commitment to the development of the state and lauded him for setting machinery in motion to facilitate the project through the MoU, saying that the partnership deal would add enormous value to the state.
Commenting on the project, Rear Admiral Ayo Olugbode, Hydrographer of the Nigerian Navy, said the project, when completed, would, in five years, generate an estimated revenue of N500 million and employment of between 2,000 and 5,000 people, depending on the scale.
