The Making of a ‪#‎NewAkwaIbom‬ By @ProjectNewAKS

Points of note from the Tuesday Tweet-convo organised by Project New Akwa Ibom - @ProjectNewAKS for a #NewAkwaIbom on The Imperatives Of Oil Boom And Accruals to Akwa Ibom; Effects and Way Forward and the guest, Arc. Ekarika Itak Ekarika outlined the following;

a) By planning capital/recurrent expenditure ratio of 3:1 in 2013 budget AKSG is moving in the right direction. We need to do more investment and less overheads. (recurrent-N118b/ capital- N351b)

b) AKSG has excelled in core infrastructure which is a foundation for development. (Independent power plant completion, roads/bridges & the port at Ibaka)

c) These are the most URGENT issues at hand:
1. What do we do if or when the oil revenue stops?
2. How do we address rising unemployment especially among youth? (militancy, criminality, poverty, health & environmental issues all sprout from here)

d) AKSG has to do MORE to directly facilitate industrialisation. This is an investment that can replace oil revenues since oil is a depleting resource. Employment creation by this method also yields more permanent work.

e) An industrial development blueprint is IMMEDIATELY required to facilitate the process.

f) Employment generation is receiving a boost specially in the construction sector. In order to create more permanent jobs the manufacturing sector must be encouraged. (N26b was allocated by AKSG)

g) AKSG must be commended for going into partnership with the private sector to establish 2 heavy industries: a methanol plant at Ibaka and a cement manufacturing factory at Adadia in Uruan.

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