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Secrets Reporters
The Akwa Ibom State Government has set the wheels in motion for the construction of a N17 billion hotel in Abuja, as contained in the state’s 2025 budget. According to the State Governor Emo Uno, the project, named ‘Ibom Hotel in Abuja,’ forms part of a broader strategy to diversify revenue streams and reduce reliance on oil.
Uno, while announcing the initiative, stated that the hotel’s construction aligns with the state’s economic vision, emphasizing its potential for long-term financial returns.
“We are also concluding plans to construct a four-star Ibom Hotel in Abuja. All these will, in the long run, earn us solid returns on investment. As the world is looking beyond oil, we too must make plans to think ahead and survive without oil,” Uno remarked.
Details about the project, including the duration of construction, why the government chose Abuja, and how the government plans to manage the property, if it eventually comes to reality were not provided.
It is not clear why the Governor will be building a new hotel in Abuja when there are already standard international hotels in Abuja. Pundits believe that the governor, who is a hotelier before coming into politics is likely to make it a public-private venture when completed, with his hotel as the private manager before and after he leaves office.
Beyond the Abuja project, the state government is also embarking on the construction of an 18-storey Ibom Towers in Lagos, with a budget of N8 billion. The governor said the high-rise development is expected to serve as a commercial hub and further bolster the state’s investment portfolio.
Since assuming office in 2023, Governor Uno has initiated a series of high-profile projects, some of which have sparked debate. Among them is the controversial ‘Happy Hour Initiative,’ which has drawn mixed reactions from stakeholders.
Recall that recently, Uno’s predecessor, Udom Emmanuel, was arrested over allegations of mismanaging N700 billion in public funds. His arrest followed a petition by the Network Against Corruption and Trafficking (NACAT), adding another layer of scrutiny to the state’s financial management practices.
