Biased reportage by Premium Times on Gov. Umo Eno investment drive 

Emmanuel Nicholas

Many countries around the world have government involvement in the real estate sector to varying degrees.

Some governments invest in real estate for various reasons such as economic development, urban planning, providing affordable housing, generating revenue, or supporting infrastructure projects.

Here are a few examples of countries where the government has a significant presence in the real estate sector:

The Singaporean government wields considerable influence in the real estate sector through its Housing Development Board (HDB), investing nearly $500 billion and generating returns exceeding 120% on its investments.

United Arab Emirates (UAE): The UAE government, especially in Dubai and Abu Dhabi, has been significantly engaged in real estate development to boost economic diversification and tourism. The government of the UAE allocates over 7 trillion dollars annually to real estate, generating profits that account for more than 96% of their yearly real estate investments.

In the United States, although private investment largely fuels the real estate market, government bodies such as public housing authorities and government-sponsored enterprises such as Fannie Mae and Freddie Mac also participate in real estate investment. These entities provide a return on investment to the U.S. government.

Anyone who criticizes the government’s plan to invest in real estate is essentially attempting to manipulate the positive intentions behind these honest investments in order to jeopardize them.

Governor Umo Eno clearly stated that rather than allowing those idle structures to accumulate waste, the State plans to enhance them, increase their appeal, and offer them for sale to the public while also keeping some for leasing.

Premium Times should commend Governor Umo Eno for his remarkable demonstration of financial creativity by introducing a brilliant strategy to enhance the state’s revenue by leveraging the various properties owned by the state government across Nigeria.

During a stakeholders meeting at the banquet hall, Governor Umo Eno informed the state’s Stakeholders that previous leaders had acquired a significant number of assets for the state, many of which are currently in a state of disrepair and unused.

He mentioned that in Lagos alone, the state government possesses over 10 properties in prime locations.

As an expert in the art of hospitality investment, Pastor Umo Bassey intends to convert several properties owned by the State in Abuja into opulent three-star or five-star hotels, and lease them to a capable hotel management team and transform the ones in Lagos to high rise residential buildings for outright sales under the supervision of the Assets Management Board and AKICORP

Governor Umo Eno’s brilliant plan to transform these forgotten state assets into cash cows is a stroke of genius, as the initiative will increase the internally generated revenue of the state .He will surely lead the State into a shining future.

Governor Umo’s genuine commitment to investment led to the establishment of a robust institution to oversee these investments.

As a result, the executive branch of the government proposed a bill to the State House of Assembly to establish an Asset Management and Maintenance Board, which has advanced through the legislative process from the initial reading to the subsequent reading on the State Assembly floor.

The legislation was made available to the public for feedback, discussed by important stakeholders, leading to revisions in specific parts of the proposal.

Afterward, it went back to the Akwa Ibom State House of Assembly for a third reading, following standing committees discussions, amendment of some sections and eventual passage.

And finally, it was forwarded to the executive branch of Government for the Governor’s assent to officially pass the bill into law.

And the two commissions has been constituted with core professionals in financial investment management and real estate development and management.

The Premium Times report highlighted the ongoing challenges faced in Nigeria, including food shortages, and criticized the Akwa Ibom State Government for its perceived lack of empathy towards the people’s suffering.

However, the report failed to acknowledge that under Governor Umo Bassey Eno, the Akwa Ibom State government stands out as the only administration in Nigeria to have established a commission to ease food crises .

Governor Umo Eno recently inaugurated the board of the State Bulk Purchasing Agency, tasked with procuring food from vendors and distributing it to the most impoverished communities across the state free of charge.

During the inauguration ceremony held at the State Executive Council Chamber, Governor Eno emphasized that the agency’s establishment aligns with his administration’s commitment to providing essential food items to the less fortunate at no cost, especially given the challenging economic climate prevailing nationwide.

The State Bulk Purchasing Agency has been distributing food to the populace twice a month, with Governor Eno pledging to continue this initiative throughout his eight-year tenure.

Moreover, Governor Umo Eno’s support extends beyond mere food provision; he has also launched a housing programme for the poorest residents, delivering 36 two-bedroom bungalows fully equipped with amenities such as potable water and solar power.

Beneficiaries of the housing program receive half a million Naira each to kickstart businesses, promoting self-reliance and sustainability.

Furthermore, Governor Umo Eno has invested over 2 billion Naira in procuring mechanized machinery from Bertola Machine Tools Ltd to distribute to farmers, facilitating their transition to commercial farming.

Under the auspices of the Ministry of Agriculture, Governor Umo Eno has revitalized cooperative farmers’ organizations to secure adequate funding for these farming clusters, enhancing food production within the state.

Furthermore , through the FADAMA Microfinance Company, Governor Umo Eno has earmarked 10 billion Naira to be disbursed as interest-free loans in phases to support agricultural development and economic empowerment within the state.

The State Government, in its pursuit of food sufficiency, has designated two working days each month as work-free days to encourage civil servants to re-engage in farming activities.

The State has reintroduced school farming in public schools, incorporating agricultural practical lessons in the curriculum. Approximately 200 students in public schools have been empowered through this initiative.

At every public event he attends, the Governor emphasizes the importance of expanding agricultural activities in the State to mitigate food shortages.

It is evident that Premium Times is attempting to discredit Governor Umo Bassey Eno’s administration by selectively ignoring the positive initiatives implemented to address food shortages and general hardships in the State .

Lastly, When news reporting is biased or one-sided, it indicates that the writer may have been influenced to portray an institution or individual negatively. Premium Times should cease their practice of biased reporting and instead strive to deliver balanced and comprehensive coverage without any malicious intentions.