The Lagos State Governor, Babajide Sanwo-Olu, on Wednesday, performed the groundbreaking ceremony for an 18-story multipurpose building owned by the Akwa Ibom State Government.
The building, named Ibom Towers, is located at Plot 868A, Bishop Aboyade Cole Street, Victoria Island, Lagos.
During the event, Sanwo-Olu highlighted the significance of the project, calling it not just a symbol of physical growth but also of inter-state collaboration and shared prosperity.
He commended Akwa Ibom State Governor, Umo Eno, for identifying Lagos as a good place to invest, adding that Akwa Ibom State’s investment in Lagos will strengthen the relationship between the two states and grow their revenues.
The 18-floor building, expected to be completed within 24 months, is projected to serve as a significant revenue source for Akwa Ibom State.
Sanwo-Olu said, “The decision by Akwa Ibom State to embark on this ambitious venture here in Lagos is a testament to the dynamism of our great city as a commercial hub and to the visionary leadership of Governor Umo Eno. This groundbreaking affirms our commitment to welcoming and fostering projects that strengthen economic ties and create new opportunities across our regions.
“As Ibom Towers rises, it will serve as a beacon of the fruitful alliance between Lagos and Akwa Ibom, creating a unique space that encourages business, investment, and vibrant community life. Projects like this one are the embodiment of our collective vision for Nigeria’s growth, driven by creativity, collaboration, and a commitment to excellence.”
Earlier in his speech, Eno said his state decided to invest in real estate, particularly in Lagos, to grow Akwa Ibom state economy and increase its revenue base.
“In our determined effort to grow more means of income and deepen our investment portfolio, we are here to perform a groundbreaking ceremony of this 18 storey Ibom Towers,” he said.
In his remarks, a former Governor of Akwa Ibom State, Obong Victor Attah, said he had wanted to embark on the project when he was the governor of the state but couldn’t execute it because he did not get the support of the relevant stakeholders.
Attah urged Eno not to give attention to those who may accuse him that instead of developing his state, he is developing another person’s state, noting that the value of land and building in Lagos is not the same as Akwa Ibom.
“Don’t pay attention to those who may blame you for not developing your state by building such property in your state. The value of land here in Lagos is far above that of Akwa Ibom State. You have a vision. The future belongs to those who have the audacity to see the future before it becomes a reality,” he said.