My Agenda on New Economy
- Old economy is civil service based, new economy to be industry and knowledge
based
- A re-branded model of assertive, more unified, achievement-driven people
required to drive the new economy
- Reposition the state for rapid economic growth
- Ibaka seaport
- Expanded tourism
- Agro based empowerment scheme
- State driven mechanised agriculture
- Diversify from petro-based economy
- Averaging of local commercial activities for strategic macro-economic
stabilisation of the south-south region
- Steady growth of internally generated revenue
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Our fulfilled dream of having an open sky to Akwa Ibom through the Ibom
International Airport apart from parachuting the state into the aviation
industry offers synergistic interplay with the tourism industry and able to
place every other economy in the state in a condition of permanent growth |
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| Jan, 25 2008: Technology has out-paced oil in powering world economy, says Philip Emeagwali ...more |
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New Economy Agenda
I will create a new economy for Akwa Ibom State which will emerge as a knowledge
and industry-based economy. In this new economy, the key to success and
prosperity will be the extent to which technology can be utilized, quality can
be provided, and ideas and innovation can be embedded in all sectors of the
economy. I will place the economy in a state of permanent steady growth and
deploy enviable economic structures for wealth producing and competitive
advantage while other areas of operation are to be outsourced with a strategy of
replacement with technology.
The new economy is to be averaged for low unemployment and immunity to the boom
and bust macroeconomic cycles of the oil industry. We will embrace contemporary
developments in business and economy of the western world and Asian Tigers. The
state will focus on those areas of its operation which are critical to its
success and where it has a competitive advantage, such as agriculture, tourism,
and aviation.
Globalisation of our markets will enable us become labour cost leaders able to
attract farmed out jobs and foreign direct investment by aggressively
stimulating our environment and processes for vertical integration. We will
develop industries to generate knowledge based globally focused jobs and a
workforce of higher morale for greater productivity while at the same time
moving retooling for grassroots based production.
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Our venture into the tourism industry will reposition the state to challenge
long held ways of doing business |
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Whatever infrastructure we are delivering today needs to be with an eye on the
future and how it benefits the new economy as in this flyover at Itam junction
which handle higher traffic bandwidth |
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Venturing into large scale agriculture will buffer the boom and burst economic
cylces of the petroleum industry |
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With our heavy investment in modern road network government is showing the lead
in what the face of transportation in Akwa Ibom should look like. This has
opened opportunities for the private sector to invest profitably in
transportation |
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