The Governor of Lagos State, Mr. Babajide Sanwo-Olu, recently inaugurated the groundbreaking ceremony for the Ibom Towers, an 18-storey multipurpose edifice, in Lagos on behalf of Akwa Ibom State.
This significant initiative is not merely a testament to infrastructural development but embodies the spirit of collaboration between states and the pursuit of mutual prosperity.
In his remarks during the ceremony, Governor Sanwo-Olu commended his counterpart, Governor Umo Eno, for recognizing Lagos as a prime investment destination. He articulated that Akwa Ibom State’s endeavors in Lagos would not only fortify the inter-state relationship but also enhance revenue generation for both regions.
The event took place at Plot 868A, Bishop Aboyade Cole, Victoria Island, Lagos State, where the Ibom Towers is strategically poised in the bustling commercial nucleus of Victoria Island. Upon completion, the development is anticipated to serve as a pivotal revenue stream for Akwa Ibom State, with an expected delivery timeline of 24 months.
Governor Sanwo-Olu emphasized, “Akwa Ibom State’s initiative to pursue this ambitious project in Lagos underscores the dynamic nature of our city as a commercial hub and reflects the visionary leadership of Governor Umo Eno. This groundbreaking ceremony reinforces our commitment to nurturing projects that enhance economic relations and open new avenues for growth across our regions.”
He further noted that as Ibom Towers ascends, it will symbolize the fruitful collaboration between Lagos and Akwa Ibom, fostering a unique environment conducive to business, investment, and vibrant community interaction. “Initiatives like this are manifestations of our collective ambition for Nigeria’s advancement, propelled by innovation, partnership, and a dedication to excellence,” he added.
Earlier, Pastor Umo Eno, the Governor of Akwa Ibom State, articulated his administration’s objective to invest in real estate within Lagos as a strategic move to bolster Akwa Ibom’s economy and diversify its revenue streams. “In our unwavering pursuit to expand our income sources and enhance our investment portfolio, we stand here to mark the commencement of this 18-storey Ibom Towers project,” he declared.
Governor Eno, reflecting on the leadership of President Bola Tinubu during his tenure as Governor of Lagos State, acknowledged that the effective reforms implemented then significantly contributed to transforming Lagos into Africa’s leading state.
In a poignant address, Obong Victor Attah, the inaugural Governor of Akwa Ibom State in the Fourth Republic, revealed his previous aspirations to initiate this project during his governorship but faced challenges in garnering support from essential stakeholders. He advised Governor Eno to disregard criticisms that may arise regarding his decision to invest in Lagos, asserting that the valuation of land and property in Lagos vastly exceeds that of Akwa Ibom. “Ignore the detractors who suggest you should focus solely on developing your own state. Here in Lagos, land values far surpass those in Akwa Ibom. Your vision is sound, and the future belongs to those bold enough to envision it before it materializes,” he affirmed.
Pastor Imoabasi Jacob, Managing Director of the Akwa Ibom State Investment Corporation, underscored the significance of Ibom Towers, stating that it is an investment aimed at enhancing the Internal Generated Revenue (IGR) of Akwa Ibom and creating lasting value for the future.
