More investments, jobs for A'Ibom as Govt. signs MoU with MAGMA Group - Paul Ukpabio's Blog

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Wednesday, 2 September 2020

More investments, jobs for A'Ibom as Govt. signs MoU with MAGMA Group


By Grace Akpan in Uyo

Akwa Ibom people are in for more investments and job opportunities as the State Government signs on a business deal with Magma Group.

The move is part of Government's effort towards attracting more foreign investors to the state in its bid to boost the industrialization-drive of the Governor Udom Emmanuel-led governmet.

Magma Group, a leading global oil and gas giant was recently engaged through the signing of a Memorandum of Understanding (MoU) with the Akwa Ibom State Government for a Public Private Partnership in different sectors of the economy including: power, gas and Agriculture, among others.

Speaking on behalf of the State Governor, Mr. Udom Emmanuel, the Secretary to the State Government (SSG), Dr Emmanuel Ekuwem, described the development as a manifestation of the efforts of Governor Udom Emmanuel to woo investors to the state towards opening up opportunities for job and wealth creation as well as poverty alleviation among the people and teeming youths of the State.


He expressed appreciation to Magma group for its interest to partner Akwa Ibom State government in the ‘rapid socio-economic development of the state and described the company as a veritable partner in the progress of the state.

While urging the investors to take their Corporate Social Responsibility (CSR) seriously, the SSG enjoined them to hit the ground running in each of the identified sectors, hinting that failure to deliver as expected the state  would to attract the revocation of the contract by government.

Earlier in his remarks, the Chairman, Foreign Direct Investment (FDI), Mr Gabriel Ukpeh had listed various projects the company will invest in the state to include: methanol and power plants in Ikot Abasi local government area, a  Palm oil mill, Kernel oil mill and vegetable oil mill. Others include: a fertilizer plant in Ibeno local government area, Tractors Assembling Plant in Onna local government area and rice plantation across the three senatorial districts of the state, among others.

The signing of the MoU  held at Government House, Uyo was witnessed by the State Attorney General and Commissioner for Justice, Barr Uwemedimo Nwoko.

In attendance were: the Commissioner for Lands and Water Resources, Arc. Ime Ekpo, the Commissioner for Trade and Investment, Prince Ukpong Akpabio as well as the Chairman, Foreign Direct Investment, Mr. Gabriel Ukpeh, signing on behalf of the state government, while the Founder and Executive Chairman of Magma Group, Alhaji Awwal Garba and other management staff of the company signed for Magma Group.

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