A Review of the Nigerian Energy Industry

Akwa Ibom offers tax holiday to investors in steel mill

21 January 2013, Sweetcrude, Uyo – The Akwa Ibom Government says it will grant tax holiday to prospective investors in the steel and building materials sector of the state’s economy.

Gov. Godswill Akpabio said this when Mr Alex Gbosi, the Chairman, Rigid Global Buildings, a US-based steel building industry, paid him a courtesy visit at Government House in Uyo on Sunday.

Akpabio said the state was prepared to partner with Rigid Global Buildings to boost industrialisation in the state.

“I can assure you that you won’t make a mistake to invest here. Akwa Ibom State is a Free Trade Zone where major industries do not pay tax.

“I would also recommend that you invest in Qua Steel Rolling Mill, Eket, that has long been abandoned,” Akpabio said.

He said that his administration was determined to support and provide land for immediate commencement of the investment.

“We will provide you a land in the free zone area at the envisaged Ibaka Deep Seaport project so that as you produce you can also export.

“If we build the industries in Nigeria, we would reduce the cost of construction because Nigeria has the market for building materials,” headded.

He also promised that the administration would supply the prospective investors with gas from the gas processing plant being built by Septa Energy in partnership with Akwa Ibom Government.

Earlier, Gbosi said the company had expertise in steel manufacturing, made name in the building industry and designed the largest airplane hangar in Dallas, USA.

He said that his company had put in more than 34 years in steel business and could supply and recycle all types of building materials.

Gbosi said that his visit to the state was informed by the need to build an industrial park which could host 20 to 30 industries.

He said that such park could serve as an industrial hub not only for the state but also for the country.

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