The Governor of Akwa Ibom State Pastor Umo Bassey Eno, has ordered immediate revitalisation of the moribund State-owned paint company, Peacock Paint.
In his address at a 3-day EXCO Ministerial Briefing cum End of Year review held at the Banquet Hall, Government House, Uyo, he directed the State Investment Corporation, AKICORP to ensure immediate revitalisation of the paint company.
In September 2015, Akwa Ibom State former governor, Udom Emmanuel also announced the reactivation of Peacock Paints Limited, a public limited company in Akwa Ibom with N526 million, the mail reported.
The company had been virtually bankrupt due to N30 million debt owed First Bank of Nigeria Limited (First Bank). The debt with interest accumulated to N150 million.
According to the mail investigation, “The bank sued the company and got a judgment to claim ownership of the company’s properties.”
Thereafter, the state government, which owns a 15 percent stake renegotiated the debt burden to N102 million, paid it off and claimed total ownership in September 2015.
“Let me thank you for your patience and for your worthy contributions to the things that we are doing,” Eno expressed gratitude to stakeholders.
Between 2015 and 2024 Peacock Paint Industry in Akwa Ibom state have undergone reactivation and plans for revitalization.
Meanwhile, the Chief Press Secretary Ekerette Udoh in a social media post said that the Governor also has disclosed plans to establish Ibom Oil Mineral Exploration Company.
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Akwa Ibom is rich in oil and other mineral resources, he said. This is to identify marginal fields and enhance active participation of the State in the oil and gas industry.
He said Akwa Ibom state must strive to have its rightful place in the oil and gas industry.
The Governor also disclosed plans to officially launch the Akwa Ibom Geographical Information System( AkwaGIS) Agency, under the Ministry of Lands and Town Planing.
“The EXCO Ministerial briefing/end of year review was basically held to look at the achievements in the past year,” He said, referring to ARISE Agenda.
He added that he will continue to run a transparent and all inclusive government.
“In the new year, by the grace of God, we will accelerate the pace of work, having already been scored high by our people so far.”
He promised his government will fill the gaps where such may have been observed or detected.
“Let me on behalf of Government and people of our dear State thank all of you our stakeholders, elders, traditional rulers, civil society organizations, organized Labour, Nigeria Union of Journalists Akwa Ibom State Council, the Students, youths, and women, non indigenes Communities, and residents in our dear State for your active participation.”
While thanking all of the Commissioners and Permanent Secretaries for the detailed presentation of achievements, challenges and future projections, he said, citizens’ engagement will continue in the new year with a town hall meeting across all the federal constituencies.
Truth Live News gathered that the stakeholders told the enlarged EXCO will have their support for being open to the scorecard assessment, saying “you’re assured of our support beyond 2027.
The stakeholders including President General, Akwa Ibom State Supreme Council of Traditional Rulers, and Oku Ibom Ibibio, His Eminence Ntenyin (Dr.) Solomon Etuk, the political leaders of Ikot Ekpene and Uyo Senatorial Districts, Sen. Emmanuel Ibok Essien, Sen. Effiong Bob, and the Deputy Governor, Sen. Akon Eyakenyi .
Report has it that each and everyone of them spoke for Ikot Ekpene, Uyo and Eket Senatorial Districts respectively at the EXCO Ministerial briefing/end of year review.