Akwa Ibom State House of Assembly has held a one day public hearing on the "Bill for a Law to Establish the Ibom Oil & Gas Corporation and for Other Purposes Connected Thereto"
Declaring the public hearing open at Assembly complex on Wednesday August 6, 2025, the Speaker, Rt. Hon Udeme Otong, represented by the member for Eket State Constituency, Hon Nsidibe Akata, underscored the importance of the bill, stating that the primary aim was to harness and take full advantage of the natural endowment as a State in the petroleum resource, describing its provisions as "far-reaching."
He stressed that the public hearing was a testament to the 8th Assembly's "deep-rooted leadership sense" and commitment to building an economy beyond civil service dependence.
Speaker Otong warned that wasting the "golden opportunity would be perilous for current and future generations" stressing that despite being a major oil producer, Akwa Ibom remains in the backwaters of benefiting from its resources.
He said the bill was a "game-changer" and an "opportunity of a lifetime" critical for the state's "economic wellbeing and sustainability."
In his welcome address, the Chairman of the Committee on Petroleum Matters, Hon. (Engr.) Udobia Friday Udo, said the bill represents a significant step towards harnessing the state's vast oil and gas resources for the benefit of the people in line with the ARISE AGANDA of the Governor, Pastor Umo Bassey Eno.
Udobia who represents Esit Eket/ Ibeno State Constituency, stressed further that the bill aims at maximizing the state’s revenue through participation in the oil and gas industry while creating jobs for the citizenry
"The bill when pass to law shall create jobs for our people in the oil and gas sector, stimulates economic growth by diversifying our economy and reducing our dependence on federal allocation".
Giving his insight on the bill, the Honourable Commissioner for Environment & Mineral Resources, Rt. Hon Nsikak Ekong, represented by the Permanent Secretary, Barr. Iquo Abia (Esq), affirmed the bill as a "veritable fulfilment" of Governor Eno's policy thrust on oil and gas under the ARISE Agenda, specifically referencing section 6.12.1.
Ekong stated the corporation would facilitate direct state participation in upstream and downstream sectors, ensure efficient resource management, generate revenue and employment, stimulate economic activity, guarantee responsible operations with environmental sustainability, attract local and foreign investment, build local capacity, and enhance the state's energy security.
Speaking on behalf of Ibeno Elders Forum, Barr. Diamond Akpan stressed the need for oil bearing communities to be represented in the board since according to him were mostly affected by effect of oil exploration.
“The bill should ensure that people from oil-bearing communities have a seat at the table. They should not be left behind in conversations about their own land".
The public hearing had representations from critical stakeholders giving their inputs on the proposed bill.
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