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Idongesit Mishael, Uyo
Nearly two decades after initiating the Ibom Science Park project, former Akwa Ibom State Governor, Obong Victor Attah, has moved to revive the abandoned initiative through a proposed integration with the Silicon Valley Science Park, with projected annual revenue of over ₦190 billion and more than 100,000 direct and indirect jobs.
The renewed project, to be developed on 35 hectares of land, is designed as a major technology and industrial hub featuring a 20-megawatt data centre, 25-storey corporate office, 24-storey residential facility with 280 rooms, 2,000-seat conference and exhibition centre and eight specialised technology clusters.
The proposed clusters will focus on artificial intelligence and advanced technology, software and ICT enterprise solutions, aviation and aerospace, biotechnology and life sciences, clean technology, advanced manufacturing and robotics, and film and digital media.
Beyond technology, the development is expected to provide Akwa Ibom with an international trade platform through its qualification to obtain an operational licence for World Trade Center Uyo, potentially opening access to global markets, investors and strategic business partners for companies in the state and the wider South-East and South-South regions.
The developers, Silicon Valley Science Park (Nigeria) Limited, said the integrated project has an estimated value of about $411 million, with a proposed $250 million mezzanine financing facility from a Florida-based family investment fund, subject to commercial, legal, financial and technical due diligence.
The renewed initiative is also expected to support technology transfer, research commercialisation, advanced manufacturing, entrepreneurship and international trade, while providing an ecosystem for locally developed products and services to be commercialised and exported.
“This presents a unique opportunity to create one of Africa’s largest and most comprehensive science, technology and innovation districts,” the developers said in a statement made available to journalists in Uyo on Wednesday.
According to the developers, the project was conceived during Attah’s tenure as governor but subsequently became dormant under successive administrations. They said the current push represents an attempt to unlock its economic potential through private-sector investment.
The financial projections are equally ambitious, with the developers estimating that the integrated project could generate more than ₦190 billion annually when fully stabilised, while creating employment across construction, technology, manufacturing, aviation, services and other allied sectors.
The project is already said to be attracting interest from international technology and manufacturing companies, with discussions reportedly involving hyperscale data centre development, drone manufacturing, aviation and pilot training, electric vehicles and digital economic zones.
Companies linked to the discussions reportedly include Microsoft data centre affiliates, international drone manufacturers, a Johannesburg-based pilot training centre and electric vehicle manufacturers, including Kia.
The developers further disclosed that local construction and consulting firms had indicated willingness to provide deferred-payment support valued at more than ₦85 billion for various phases of the development, a move that could ease immediate financing pressure.
Attah, who chairs the development company, said the renewed effort was consistent with the economic vision he pursued while in office, particularly the use of technology, innovation and industrial development to diversify the state’s economy and attract global investment.
However, the project still faces an infrastructure challenge, as the developers disclosed that a state drainage culvert currently discharges storm water into the site, constraining construction activities over the past year.
They said discussions were ongoing with the Ministry of Environment and the administration of Governor Umo Eno towards finding a lasting solution to the drainage problem, stressing that resolving the issue would be critical to accelerating development of the proposed science and technology district.
Idongesit Mishael, Uyo
Nearly two decades after initiating the Ibom Science Park project, former Akwa Ibom State Governor, Obong Victor Attah, has moved to revive the abandoned initiative through a proposed integration with the Silicon Valley Science Park, with projected annual revenue of over ₦190 billion and more than 100,000 direct and indirect jobs.
The renewed project, to be developed on 35 hectares of land, is designed as a major technology and industrial hub featuring a 20-megawatt data centre, 25-storey corporate office, 24-storey residential facility with 280 rooms, 2,000-seat conference and exhibition centre and eight specialised technology clusters.
The proposed clusters will focus on artificial intelligence and advanced technology, software and ICT enterprise solutions, aviation and aerospace, biotechnology and life sciences, clean technology, advanced manufacturing and robotics, and film and digital media.
Beyond technology, the development is expected to provide Akwa Ibom with an international trade platform through its qualification to obtain an operational licence for World Trade Center Uyo, potentially opening access to global markets, investors and strategic business partners for companies in the state and the wider South-East and South-South regions.
The developers, Silicon Valley Science Park (Nigeria) Limited, said the integrated project has an estimated value of about $411 million, with a proposed $250 million mezzanine financing facility from a Florida-based family investment fund, subject to commercial, legal, financial and technical due diligence.
The renewed initiative is also expected to support technology transfer, research commercialisation, advanced manufacturing, entrepreneurship and international trade, while providing an ecosystem for locally developed products and services to be commercialised and exported.
“This presents a unique opportunity to create one of Africa’s largest and most comprehensive science, technology and innovation districts,” the developers said in a statement made available to journalists in Uyo on Wednesday.
According to the developers, the project was conceived during Attah’s tenure as governor but subsequently became dormant under successive administrations. They said the current push represents an attempt to unlock its economic potential through private-sector investment.
The financial projections are equally ambitious, with the developers estimating that the integrated project could generate more than ₦190 billion annually when fully stabilised, while creating employment across construction, technology, manufacturing, aviation, services and other allied sectors.
The project is already said to be attracting interest from international technology and manufacturing companies, with discussions reportedly involving hyperscale data centre development, drone manufacturing, aviation and pilot training, electric vehicles and digital economic zones.
Companies linked to the discussions reportedly include Microsoft data centre affiliates, international drone manufacturers, a Johannesburg-based pilot training centre and electric vehicle manufacturers, including Kia.
The developers further disclosed that local construction and consulting firms had indicated willingness to provide deferred-payment support valued at more than ₦85 billion for various phases of the development, a move that could ease immediate financing pressure.
Attah, who chairs the development company, said the renewed effort was consistent with the economic vision he pursued while in office, particularly the use of technology, innovation and industrial development to diversify the state’s economy and attract global investment.
However, the project still faces an infrastructure challenge, as the developers disclosed that a state drainage culvert currently discharges storm water into the site, constraining construction activities over the past year.
They said discussions were ongoing with the Ministry of Environment and the administration of Governor Umo Eno towards finding a lasting solution to the drainage problem, stressing that resolving the issue would be critical to accelerating development of the proposed science and technology district.
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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