The Akwa Ibom State Government has unveiled plans to construct a 4-star Ibom Hotel in Abuja as part of its broader strategy to diversify revenue streams and reduce dependence on oil.
Governor Umo Eno made this announcement during his presentation of the 2025 budget proposal before the Akwa Ibom State House of Assembly on Wednesday.
He further emphasized that the state government is finalizing arrangements for the hotel’s construction, which is expected to generate substantial long-term returns on investment.
The details were drawn from the governor’s speech, which was later made available on the official website of the state government.
“We are also concluding plans to construct a Four-Star Ibom Hotels in Abuja- all these will in the long run earn us solid returns on investment. As the world is looking beyond oil, we too, must make plans to think ahead and survive without oil,” he stated.
This announcement comes just weeks after the Akwa Ibom State government held the groundbreaking ceremony for the construction of the 18-storey Ibom Towers, a project that, upon completion, will mark the state’s entry into the dynamic Lagos real estate market.
The governor emphasized the state’s commitment to boosting its internally generated revenue through the innovative revitalization of its underutilized assets.
What you should know
Governor Umo Eno outlined several key initiatives by the Akwa Ibom State Government aimed at diversifying the state’s economy and fostering sustainable development.
- He emphasized the Ibom Deep Seaport, a flagship project vital to the state’s long-term economic strategy. The governor shared that a comprehensive feasibility study, encompassing geo-technical, geo-physical, and environmental assessments, has been successfully completed.
- With the study finalized, he confirmed that the project will now proceed to the Front-End Engineering Design (FEED) phase, a critical step in the execution of large-scale infrastructure projects. He also highlighted progress in improving access to the facility and enhancing the seaport’s connectivity and operational readiness.
- Governor Eno also highlighted tourism as a central pillar of the state’s economic vision. He announced that a section of Arise Park, the state’s ambitious tourism project, will open in December, with the first phase featuring a children’s playground and a golf course.
Situated on land once devastated by gully erosion along Etim Umana and Dominic Utuk Avenues, the park, as noted by the governor, now embodies the state’s dedication to transformation.
Upon completion, he stated, Arise Park will emerge as a major tourism hub, driving economic growth, creating jobs, and furthering the state’s diversification goals.
