The Akwa Ibom State Government has expanded its state-owned investment by investing $10 million into real estate in the United States of America.
Speaking at the ground-breaking ceremony of the Akwa Ibom house in Atlanta, Georgia, Governor Udom Emmanuel disclosed that the project is in partnership with the Akwa Ibom State Association of Nigeria, Atlanta chapter and not a donation.
At the ceremony, he said, “The money given by the state government is a huge investment, which has acquired 23 per cent equity stake, was not a donation,” while expressing hope that “the project will yield maximum benefits, and will be a veritable source of external financial inflows into the coffers of the State government.”
On his part, the national secretary of AKISAN, Michael Asuquo, who is also the project manager of the Akwa Ibom Housing Project said the project will earn a lot of revenue for all the investors as the location of the proposed real estate is “very lucrative and sited less than 15 minutes from the busiest airport in the world- the Hartsfield Jackson Airport, Atlanta.”
The governor was accompanied by the governor-elect, Pastor Umo Eno; member of the House of Representatives for Eket Federal Constituency, Patrick Ifon; Secretary to the State Government, Dr Emmanuel Ekuwem and others that made up his large entourage.