The Akwa Ibom State Governor, Pastor Umo Eno, has reaffirmed his administration’s commitment to driving meaningful profitability in the state’s agricultural sector through a clear distinction between agricultural business investment and social welfare interventions.
Governor Eno stated this after inspecting ongoing renovation works at the headquarters of the Akwa Ibom State Agricultural Development Programme (AKADEP) in Uyo.
The governor explained that the administration has established an agricultural business unit to focus strictly on ventures designed to generate revenue for the state.
According to him, “Agriculture is big business. And its social investment is quite different from its business investment. What our Ministry of Agriculture is doing is purely a social investment, which has to do with its free or subsidised distribution of farm seedlings or inputs to farmers. But if it has to do with tree-crop planting, equipment leasing, or model farming, it is simply business investment.”
He emphasised that the government would no longer invest in ventures simply because they fall under government operations, especially where private sector operators can manage them profitably.
“So, we have to separate the agricultural business from agricultural social welfare to drive meaningful earnings for the state,” he said.
Governor Eno further highlighted the importance of improving internally generated revenue, noting, “We must bring in money through this laudable business approach to the State so that the State’s internally generated revenue can grow to secure the State in case of a revenue shortfall from the oil money accruing from Abuja.”
He stressed the need for economic viability and financial independence, stating, “For our state to be economically viable and financially self-reliant, we must revitalise and sustain all our business investments. We must turn all these assets of ours into income-yielding assets and run them professionally for our good.”
To strengthen the focus on agribusiness, Governor Eno announced the appointment of Pastor Godwin Ukwat, who previously served as Executive Director, Agric Investment, as Senior Special Assistant to the Governor on Agric Business.