About Akwa Ibom State: Investing in Akwa Ibom State
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There are recreational facilities in key areas to help you unwind. And for your children, there are numerous primary and post – primary schools, a college of education, a polytechnic, a state university, a federal university and an international standard maritime academy to prepare them for the future.


The Akwa Ibom Investment and Industrial Promotion Council, (AKIIPOC), is a statutory body established and signed into law by Government. The organisation is headed by a Director General.

AKIIPOC is constituted as the primary agency to prosecute the State Government investment and industrial promotion initiatives. Additionally, it will supervise government’s economic development programmes and institutions. Its terms of reference include:

  • Determine and advise on policies that will best promote accelerated industrialisation and multi sectoral investment to diversify the economy and enhance the state's productive capacity.

  • Focus on key developments and investment issues that affect the state and suggest ways to resolve them.

  • Provide policy advice on industrial, agricultural, commercial, oil and gas, transportation, housing, utilities, manpower and other aspects of the state’s economy.

  • Carry on the business of Investment Trust and Holding Company and control all the investment and securities of the State Government in various companies, parastatals and other bodies.

  • Co-ordinate and monitor all investment promotion activities in the state.

  • Articulate and supervise the reactivation of industries and business concerns in which government has shares or interests.

  • Enunciate and implement policies that will attract investment and capital mobilisation.

The strategic location of Akwa Ibom State in the warm-weather tropical zone and sandwiched in between States like Cross River State; an ancient regional economic, educational and administrative centre with historical links, which serve as a sea route to neighbouring Cameroon Republic and Equatorial Guinea, with a free export zone, tourist and business resorts like the Obudu Cattle Ranch, Qua Falls, Kanyan and Cross River National Park. Abia State with its cultural, military and colonial history museums, Rivers State with its Oil fields and by the fact Akwa Ibom State is located in the Niger Delta with its old slave ports, and at a day's distance journey, makes Akwa Ibom a virgin Tourist haven for prospective investors. As an Ibibio myth says,” challenging demands and rewarding opportunities await those who dare to reach out for the priceless jewel on the python’s head”. This aptly describes what Akwa Ibom presents to an Investor.

Vibrant Economy

Out of the six geo-political zones in Nigeria today, only the South South has the economic muscle to translate its dreams into realities. The rich natural resources of the zone accounts for more than 90 percent of total national earnings. The zone comprise Akwa Ibom, Bayelsa, Cross River, Delta, Edo and River States. For years, these states were considered as the minorities with little say in the management of their natural endowments. Not any more. Today, following from the return of democracy, we have become a voice that is heard across the land; a major power bloc. In this group, Akwa Ibom State is a major player.

The people of the zone are being empowered politically and economically, especially through the recent changes in federal revenue sharing system that gives 13 percent of oil earnings to oil producing states.

The zone has a total population of 3.9 million representing 3% of total national population of 140 million. Add to this the 16 million people in the neighbouring states of Abia, Anambra, Ebonyi, Enugu, and Imo which forms the south east zone and you will come face to face with one of Africa’ s extensive market, by far larger than the population of South Africa.

Free Zones

Akwa Ibom State is the only Nigerian state that is served by three export free zones. That means, triple benefits for investors. There is an export processing zone at Ikot Abasi, home to Nigeria’s multi – billion dollar Aluminium Smelter Company, Alscon. The state also falls within the catchment areas for Calabar export processing zone and the oil and gas free zone in Port Harcourt.

Because we are positioned midway between the two port cities of Calabar and Port Harcourt, Akwa Ibom has unlimited access to the world, whether by air or by sea. Much more, we have become part of Nigeria’s gateway to the countries of Central Africa, like Cameroon, Gabon, Central African Republic, Equatorial Guinea and Congo. These are great market potentials for our industries.

Currently, the Federal Government is dredging the Atlantic Coast at Ikot Abasi so that sea going vessels can berth at the port. This should help the export drive of Alscon and for you, foster business growth.

Areas for Infrastructure Investment

  • Airport-cargo handling
  • Bonded and unbounded warehouses (@ Airport & Seaport)
  • Deep seaport development
  • Dockyard and watercraft repair facilities
  • Water transportation
  • Ibaka – Tinapa rail
  • Inter state rail lines
  • Metro line & trams
  • Road infrastructure
  • Independent power plant phase II
  • Power lines
  • Power distribution
  • Electrification installation accessories
  • Refinery
  • Gas gathering (dry)/Distribution
  • Gas-to-liquid (GTL)
  • Industrial park
  • Trade fair centre in Uyo
  • Dome – consisting of amusement park, circus, entertainment center
  • Housing (commercial / residential / urban renewal)
  • Hotels
  • Rural water and water treatment equipment operation and maintenance of urban water supply
  • Schemes and water pipe lines reticulation and distribution infrastructure
  • Manufacturing / assembling of ICT equipments and parts
  • ICT support services
  • Establishment of science lab for research / grading of produce
  • Integrated waste management / conversion (waste to wealth)

Investment Incentives  open details

A Memorandum of Understanding was executed in 1986. New incentives were introduced between 1990 - 1993 by the Federal Government to encourage further investment in the gas sub-sector. Concessions are available for investors interested in Joint Venture with APEL Exploration and Production Company Limited.

The main policy thrust of Government on investment is to encourage private sector-led industrialisation. The State Government has established a corporate body: The Akwa Ibom Investment and Industrial Promotion Council (AKIIPOC) as the primary agency of Government. Government guarantees prompt allocation of plots.

In its effort to provide investors in the State with the most competitive and generous investment environment the government has obtained approval from the Nigerian Export Processing Zone Authority (NEPZA) for Export Processing Zone status.


The rich land mass and the all year - round clement weather offer a favourable environment for the production of food and tree crops as well as livestock. The following crops are widely grown in the state.

The major industrial crop is the oil palm tree. The state has the densest groves of oil palm in Nigeria. The Akwa Palm Industries PLC was set up in 1991 to harness the full potential of this crop. The production of crude palm oil will allow for downstream industries which can refine the oil into vegetable oil, soaps, margarine, glycerine, candles, detergents and numerous other products. The kernel oil is used for the manufacture of high quality toilet soap. Bye product from the oil palm industries are used for the production of livestock feeds.

Strategic Infrastructuretegic Infrastructure

In Akwa Ibom, we are modernising our infrastructure to bring them to world class standards. The state is benefiting from a federal programme to upgrade and modernise key telephone facilities across the country. This process should be completed shortly.

We are currently discussing with a number of organisations within and outside Nigeria to develop independent power projects that will provide clean, uninterrupted electricity in the state.

We are building new roads and rehabilitating old ones. A total of 1,000 km of road will benefit from this programme over the next 12 months. They should open up our communities and facilitate easy movement across communities. Our compact size demands that we develop our state as an integrated city served with very modern amenities.

In the housing sector, the state is benefiting from a special programme sponsored by the Nairobi - based Shelter Afrique. More than $3 million will be invested over the next three years in developing owner occupier homes across the state.

Tourism Potentials

Privatisation of Government Companies

Investment Climate

The tourism industry in Akwa Ibom State promises an unlimited investment potential. The state has rich tourist sites that are eagerly awaiting investors to cash-in. The state boast of road networks that crisscross the entire landscape of the state. The state government is on the verge of completing its international Airport near Oron. In addition to Mobil, the state boasts of a vibrant State Tourism Board that is providing the enabling environment for investors. This is evident in the recent completion the of the largest resort at the Nwaniba river which boasts of the largest golf course in Africa and a five Star Ibom Resort Hotel being managed by Le Meridian, a global player in the hotel industry. In spite of these giant strides, there is need for more of such resorts to take advantage of the bustling tourist interest in the 'land of Promise'.

With resort-type beaches such as the Ibeno Beach, Qua River water- side, the water front area of the Oron River adjacent to the Museum with its humid and temperate climate, the ancient trading beach at Okopedi, Itu; the tropical oil palm scenery of the Ibagwa river valley, the Ibaka fishing settlement site James Town, Uta Ewa fishing settlement, Ibaka beach, Obuabu Blue River and the Consular beach at Ikot Abasi are all resorts waiting to be fully developed and exploited.

Beside these scintillating resort sites, the State’s historical sites demand urgent development. Such sites include; the oil Palm produce ware-houses and the UAC Company agents residence; the Mary Slessor Cairn site on top of the Okoyong hill, there is the ancient tree grove at Afaha Offiong in Nsit Ibom; the Slave trading ware houses at Ikot Abasi, Itu, the building where the amalgamation treaty was signed by Lord Frederick Lugard in 1914 at Ikot Abasi, the old Presbyterian Church at Itu, built under the supervision of Mary Slessor; the Itu hill walk-way that also has the first telephone line and Post office, among others. The amazing mixture of traditionalism and modernity provides an awakening, a window to another virile and colourful glimpse of African humanity and its cultural and natural environment.

At inception, the state inherited a number of companies from Cross River State. These are:

  • Sunshine Batteries, Essien Udim
  • Peacock Paint, Etinan (Privatised) Quality Ceramic Industries, Itu (Privatised)
  • Qua Steal Products Limited, Eket Asbestonit Industries, Oron
  • Plasto - Crown Industries, Uyo
  • International Biscuits Limited, Ikot Ekpene
  • Champion Breweries, Uyo (Privatised)
  • Pamil Industries, Abak

Most of the companies are ailing, becoming a drain on government. As part of the economic policies of the present Administration, these companies are to be revived and privatized. Government is diverting its interest in them in line with overall philosophy to focus on creating an enabling environment for private sector initiatives to flourish.

The State Government is pursuing its industrialization and privatization program through the Akwa Ibom Investment and Industrial Promotion Council, AKIIPOC. Through AKIIPOC, a number of interests have been secured as strategic partners and core investors in reviving these industries. The Plasto Crown Industries has been revived and is back on stream, producing crown corks for domestic and industrial uses.

A core investor has been secured for the Champion Breweries, Uyo. An interim board has been put in place to direct efforts at early resumption of operations. AKIIPOC is discussing with other investors from across the world in participating the revival of other companies.

Other industries in the state include Ebughu Fishing Terminal, Mbo, Akwa Rubber Estate Limited, Itu, and Akwa Feeds Limited, Uyo. There are two Federal Government industries, the Aluminum Smelter Company, ALSCON, at Ikot Abasi and the Nigerian Newsprint Manufacturing Company, NNMC, Oku Iboku.

A very clement tropical climate, marked by two distinct seasons – the rainy and dry seasons – combines with sound political and social conditions to create the right environment for new investments. We have put in place sound economic policies to support new investments and guarantee the safety of such enterprise. We are deregulating and divesting our interests in state funded companies. The business of government is to create an enabling environment for your business to grow. We are re- engineering our public service to operate with a private sector mentality. We are computerising our operations. We have made it possible for you to process and receive all government approvals with dispatch.

There are a number of incentives for new investors. The export processing zone at Ikot Abasi guarantees such benefits as tax holidays, processing for export and easy repatriation of profit in line with international practices.

Our people are warm, friendly and very accommodating. Crime rate is very very low. Akwa Ibom is one oil producing area without a history of hostage taking. Exxon Mobil which has been operating in our area since 1961, enjoys a very close relationship with the host community. We see it as a unique partnership for growth. To them, it is good neighbourliness.

The State believes that growth and sustainable development can take place through private sector initiatives under an enabling environment created by the government. As part of our responsibility to create that environment, the present administration will invest in strategic areas of power, telecommunications, oil and gas as well as human capital development. Government economic policy is consistent with providing the conditions for competition, liberalization and openness.

We believe in the empowerment of the people to participate and produce economic activities. In addition to numerous skill development programs, the government in partnership with the United Nations Development Program, UNDP, completed the Akpan Andem Entrepreneurship Village, to boost domestic produce capacities and create wealth.

Government is offering a number of incentives to attract and sustain investors. These include: free land and title, access to research studies on various fields in addition to tax holidays, capital allowance and easy repatriation of profits.

AKIIPOC has undertaken a number of studies on investment opportunities that exist in the state and is willing to share these studies with interested investors.

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