Former Akwa Ibom Governor Victor Attah and a group of local and international investors have launched plans to bring back the Ibom Science Park project, just months after Governor Umo Eno said his government would not continue with it.
The promoters want to turn the abandoned Ibom Science Park into a private technology hub called Uyo Silicon Valley. The World Trade Centre Uyo will be one of its main parts.
This announcement came in a statement released on Thursday by The Silicon Valley Science Park (Nigeria) Limited, the company working on this project.
Iboro Otu, a businessman and the African Action Congress governorship candidate in the 2023 Akwa Ibom election, is the CEO of the company. He said that Mr Attah is the chairman of the company's board.
The company has started talks with the Akwa Ibom State Government to take over and develop the Ibom Science Park. This follows Governor Eno's statement that the government is open to passing the project to a capable private investor.
"We have formally expressed interest in partnering with the state government to take over and develop the Ibom Science Park," the company said.
They believe that combining the abandoned state project with the new Uyo Silicon Valley would create one of Africa’s largest science, technology, and innovation districts.
Earlier reports from PREMIUM TIMES showed that Mr Eno ruled out reviving the Ibom Science Park project. He had earlier promised to assess the investment but decided instead to let private investors take over the project.
The science park was started during Mr Attah’s time as governor to help position Akwa Ibom as a tech-driven economy. Yet, the project has not seen much progress under different administrations.
The promoters said the Uyo Silicon Valley would cover 35 hectares in Uyo. It will include nine specialized tech clusters, commercial offices, serviced apartments, a 20-megawatt data center, an international conference center, and facilities for software development, artificial intelligence, biotechnology, clean technology, advanced manufacturing, aviation and aerospace, digital media, and enterprise solutions.
The company mentioned that a family investment fund from Florida is ready to provide a $250 million financing deal, but this is subject to completing commercial, legal, financial, and technical checks.
They also noted that Nigerian construction and consulting firms are willing to help with parts of the project through payment plans worth over N85 billion.
Additionally, the company has received interest from international tech firms, including data center developers linked with Microsoft, drone manufacturers, aviation training schools, electric vehicle companies, and partners in digital economic zones.
A key part of the proposed development is the World Trade Centre Uyo. The company said it has met the requirements to get an operational license for it.
According to the promoters, this center will offer business services, opportunities for international networking, and support exports from Nigeria’s South-south and South-east regions while attracting foreign investment.
The World Trade Centre will also provide business advisory services, training programs, and facilities to connect local innovators and entrepreneurs with global markets.
Besides wanting control of the Ibom Science Park, the developers asked the Akwa Ibom government to fix the drainage issues at the project site.
They mentioned that stormwater from a state drainage system had held up development for about a year. They urged the government to finish agreed engineering work to redirect floodwater from the proposed site.
The company predicts that when fully operational, the project will create over 100,000 direct and indirect jobs and generate annual gross revenues exceeding N190 billion.
They estimated the total investment for the development at $411 million.
Mr Attah continues to guide the initiative as chairman, aiming to make Akwa Ibom Nigeria’s center for technology and innovation.
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