Fed Govt okays $7b investment in Akwa Ibom, says Kachikwu

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Fed Govt okays $7b investment in Akwa Ibom, says Kachikwu

Post by hamtech » Tue Jun 14, 2016 7:52 am

•Ministers meet stakeholders at town hall meeting

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, yesterday said the Federal Government has approved an investment portfolio of over $7 billion in the Petroleum sector in Akwa Ibom State.

The minister noted that the approval followed what he called the relative peace the state enjoyed.

He said: “Let me say that some of the biggest investments coming in the Petroleum sector are in fact coming to Akwa Ibom State. Right now, we are finalising the Independent Power Project (IPP) with Mobil, which will produce 500 megawatt (MW) of power.

“A major investment is also coming, working with the Nigerian National Petroleum Corporation (NNPC) to develop some facilities, including an ethanol plant. The total value of this investment is over $7 billion. It has been approved by the President. There are major investments coming your way as a result of the peace we enjoy here.”

The Minister of Transport, Mr. Rotimi Amaechi, urged the Minister of Niger Delta, Usani Uguru, to ensure the completion of the East-West Road for the development of Niger Delta.

The minister reiterated the commitment of President Muhammadu Buhari to the development of Niger Delta through the award of contract for the development of railway from Lagos-Calabar.

He said: “I met on my table a contract awarded for $12 billion and it was not implemented. That contract was called the Lagos-Calabar railway. The Federal Government has agreed to do the Lagos-Calabar and Lagos-Kano railways.”

On the development of Maritime Academy of Nigeria at Oron, Amaechi said the policy of the Federal Government was to upgrade the institution to an international standard.
On the establishment of Maritime University in Okerenkoko in Warri South Local Government Area of Delta State, Amaechi said he was not against the establishment of the institution but the Ministry of Transport did not have money to fund for the project.

He said: “What I am saying is that government does not have funds for it now. The Ministry of Transport does not have money to fund a new university in Okerenkoko. Other ministries can fund it but not Ministry of Transport.”

The Minister of Niger Delta, Usani Uguru, noted that sections 4 and 5 of the East-West Road had not been abandoned because of diversion.

He said: “Section 4 of the East-West Road, which passes through Eket, is not abandoned. We are working on it. Let nobody be deceived by the delay as a result of the diversion. It doesn’t mean abandonment. “Also the section 5, Oron to Calabar, this delay is worth more than starting what you cannot finish. If this contract was awarded in 2013, why has it not started until now?”

Condemning the rowdiness caused by some youths during the town hall meeting, Uguru said: “We have all seen what goes on in the town hall meetings in other regions; none has been so shameful. It is unfortunate. In the midst of that, we begin to complain about how much resources have not got to the region.

“Why don’t you allow me apply the little we have and have a reason to complain to get more?

“But in this circumstance, who would you convince to come and put more into it? All we keep crying to insinuate is regional discrepancies on the basis of political alignment. Have we forgotten that in the 17 years of democratic rule, people of the South took 14 years? If you see nothing wrong in the lack of development of the South, why would you see something wrong in the peace and advancement of that region? It is shameful to portray us as people who are not sensible.”

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Re: Fed Govt okays $7b investment in Akwa Ibom, says Kachikwu

Post by vanes » Sat Oct 06, 2018 10:02 am


Posts: 187426
Joined: Sun Jul 29, 2018 8:34 am

Re: Fed Govt okays $7b investment in Akwa Ibom, says Kachikwu

Post by vanes » Tue Mar 26, 2019 10:32 am

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