On Wednesday, Lagos State Governor Babajide Sanwo-Olu marked the beginning of a significant new project with the groundbreaking ceremony for the 18-story Ibom Towers in Victoria Island, Lagos. This multipurpose building, initiated by Akwa Ibom State, represents not just a construction effort but also a collaboration between the two states, aiming for shared growth and prosperity.
Governor Sanwo-Olu praised his Akwa Ibom counterpart, Governor Umo Eno, for recognizing Lagos as an excellent place for investment. He noted that this initiative would not only enhance the economic relationship between the two states but also help increase their revenue streams.
During the ceremony, Sanwo-Olu emphasized the importance of Ibom Towers as a future revenue source for Akwa Ibom State. He described the project as a testament to Lagos’s position as a commercial hub and a sign of the visionary leadership of Governor Eno. He expressed optimism that this investment would create new business opportunities and contribute to the economic development of both states.
Governor Eno explained that Akwa Ibom’s investment in Lagos aims to grow its economy and diversify its revenue sources. He cited his admiration for President Bola Tinubu’s leadership during his time as Governor of Lagos, noting that the right policies helped transform Lagos into a top-performing state in Africa.
Victor Attah, the first Governor of Akwa Ibom State, shared his thoughts on the project, recalling his earlier intentions to develop such a property but not having the support needed at the time. He encouraged Governor Eno to disregard any criticism regarding investing in Lagos, pointing out the significant difference in land value between Lagos and Akwa Ibom.
Pastor Imoabasi Jacob, Managing Director of the Akwa Ibom State Investment Corporation, highlighted that Ibom Towers is expected to increase the state’s internal revenue and create long-term value for the future. The project is scheduled for completion in the next 24 months, marking a new chapter for both states in their journey toward economic growth.
