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HomeEditorialOpinionUNDERSTANDING UDOM EMMANUEL'S ECONOMIC TEMPLATE

UNDERSTANDING UDOM EMMANUEL’S ECONOMIC TEMPLATE

Otobong SAMPSON

In one of his visits to Akwa Ibom State, Prof. Yemi Osinbajo, thoroughly impressed with the economic vision of Mr. Udom Emmanuel described him as one of the most intelligent leaders around.
That Osinbajo imaged the Akwa Ibom governor in that clear, unmistakable term was neither surprising nor significant. That the Vice President, a law professor of repute and a leading figure of an opposing political camp should pay such honest tribute is both surprising and significant.

Emmanuel’s strides in the economic sector have been – there is no other word – phenomenal. A society is an organic unit, it responds to understanding and insights, not necessarily to blueprints.
The industrialization drive is a bold effort to rewrite the narrative as it attempts to meet the challenge of developing a prospering economy for Akwa Ibom State.

Today, Akwa Ibom has not hit the mark yet in the industrial race comparable to Lagos; but it has made quantum leaps with the presence of a dozen viable industries running at top speed in just about four years as well as many others in the pipeline.

In the last three decades of statehood and especially since the beginning of the present dispensation in 1999, a government is restructuring its institution, its industries and its agriculture in a way that will allow it realize fully this one important goal.

Industries and job creation are not achievable simply by declaration or through mouthing change; they require a careful restructuring of institutional and developmental processes that will transform a state like Akwa Ibom from the bleakness of a civil service economy to a future that will represent the shared vision of its people.

The development of an industrial and self reliant economy antithetical to the economic heritage of political patronage is in itself a challenge.
We must first examine the policies that have been implemented in Akwa Ibom to determine if they have been consistent with the realization of the core policy thrust of the Udom Emmanuel administration.

In developing economies, Small and Medium Enterprises are critical players for enhancing innovation, competitiveness and enterpreneurship.

Instead of large scale industries, SMEs having attained significance in The Periphery, become advantageous because they are the economic enterprises with the capability to adapt quickly, work with less capital, low cost management and cheap production.

Juxtaposing these considerations and realities, without a shred of doubt, Governor Emmanuel is on course and on track

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