BusinessTop News

ICSAN Restructuring Of APICO, Akwa Palms

…Describes It As Rightful Measures

The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Akwa Ibom Chapter has described the decision by Akwa Ibom State Government to restructure Akwa Ibom Property and Investments Company (APICO) and the Akwa Palms Limited in Uyo and Itu respectively, as a step taken in the right direction.

The institute’s chapter chairman, Akparawa Aniedi Amos, who bared his mind recently in Uyo while interacting with newsmen, said the government’s decision to restructure these two important places for viability and to meet the demands of the present dispensation is “a step in the right direction”.

Amos observed that the two institutions are still key places which can produce and supply the needed revenue and resources needed for the growth of the state, saying, “Indeed, the restructuring would be appropriate owing to their importance to the state”.

He noted that, these two key institutions when restructured, would offer employment opportunities for the teeming unemployed youths to be gainfully employed.

Read Also: Tackling Unemployment Epidemic In Akwa Ibom

The state chairman of ICSAN, who recalled the part played by APICO since its establishment in the state many years ago as regards revenue generation for the state, said he ticks right for its planned restructuring by the present administration.

Amos reiterated that at its initial establishment many years ago, APICO was headed by Arc. Okon Inwang, whom he noted, ran the affairs of the company creditably well, urging government to take into consideration, the integrity and antecedents of those to manage the affairs of the company when restructuring for its proper growth and development.

While stressing the need for government to strive to ensure that the lost glory of APICO is returned, Amos commended Governor Udom Emmanuel for seeing the need to also restructure Akwa Palms Limited, which according to him, is a name that rings a bell in the state in the past owing to its importance then.

Read Also: Unemployment Saga: Renowned Scholar, Prof. Inyang Faults NBS’ Rating Of Akwa Ibom

He recalled that Akwa Palms in the past had generated huge revenue to the state through sales and exports of products (palm oil) derived from there, mentioning that with the high cost of palm oil hitting the state and nation presently, the institution if restructured for viability and productivity, will contribute profoundly to the economy of the state through exports of its product.

According to him, with the coconut oil factory established by  government for the processing and production of coconut oil for export, through raw materials that would be provided by the coconut plantation at Okobo Local Government Area and  those from St. Gabriel Coconut plantation, government can also establish a palm oil factory that is not seen anywhere in the country, with the Akwa Palms Limited supplying the raw materials, while another location should be sought for in any local government area for mass planting of palm trees, the same way coconuts are planted at various locations.

The ICSAN chairman who was elated on this new development, said the institution had in the past employed persons and put food on tables of many until it was no longer heard, expressing joy that the restructuring of Akwa Palms Limited, will reduce unemployment in the state and take youths off the streets, opining that during the restructuring of these two key institutions, considerations should be given to those with backgrounds in corporation governance and public administration for promotion and advancement of the efficient administration of the institutions, which he said could be provided by ICSAN in the state.

He commended Governor Emmanuel, whom he described as “a man with great vision “, for seeing the need to restructure the two key institutions to meet demands and taste of the current era.

ICSAN is a leading recognized professional body in Nigeria dedicated to enhancing the status and practice of corporate governance and public administration.

Show More

Related Articles

error: Content is protected under Copy Right!!