“As of last year, we expended over N8.9 trillion on infrastructure development despite the severe economic meltdown in the country,” said the vice president
Vice President Yemi Osinbajo says President Muhammadu Buhari’s regime has spent N8.9 trillion on infrastructural development in 2020.
On Friday, Mr Osinbajo disclosed this at the inauguration of the 21-storey Dakkada Tower in Ibesikpo Asutan local government area of Akwa Ibom.
“We have invested more than any administration on infrastructural development. As of last year, we expended over N8.9 trillion on infrastructure development despite the severe economic meltdown in the country,” said the vice president.
Also, last month, he said, the Federal Executive Council approved the Lagos-Calabar rail project, which would pass through Uyo, as a major station.
“These infrastructural developments are set to establish Akwa Ibom State as a major industrial hub for not just Nigeria, but the West African sub-region,” he added. “At the end of last year, the Federal Executive Council also approved the full business case of the Ibom Deep Seaport, and of course, as a result of the active demands.”
Mr Osinbajo noted that the 21-Storey Dakkada Tower was among the tallest buildings in West Africa, saying that the oil and gas companies should find it entirely auspicious to relocate their administrative headquarters to Uyo.
“This tower is state of the art, with the latest technology, developed for an efficient and smart world,” said the vice president. “I heard that some IOCs have expressed intentions. I am glad to know that the investment in the Dakkada tower was already yielding fruits.” Osinbajo said.
He said the completion of the Dakkada tower would address the paucity of accommodation for the IOCs in the state. My opinion on the 21-storey Dakkada tower is that it complements the government’s effort at creating an enabling environment for investments to thrive in the state.
“It is a catalyst for the private sector. I commend the governor for his industrialisation agenda.”
He noted that the industrialisation drive in Akwa Ibom was significantly one of the centrepieces of the federal government’s economic agenda.